"[The panel] has recommended the government to take immediate steps to stop use of VCs [virtual currencies] such as bitcoins to protect people from potential frauds and curb money laundering. "
Lol- stop corruption and money laundering in India.... surely they realise that one the most corrupt people in India are the politicans (and their friends)
1. Ban physical cash 2. Force everyone into a bank account (to track their transactions) 3. Income tax them 4. Sales tax them 5. Use bank account info to hunt down and convict tax evaders 6. Profit!