Quote from: edi-mf on January 20, 2018, 05:13:26 PM

Just click that sweet ignore button under OP's name.

Confusion reigns in Indias cryptocurrency ecosystem.
The Narendra Modi government and Indias central bank have made it amply clear they arent comfortable with virtual currencies. The recent spike in bitcoins value, which attracted hordes of investors, has only made the government more vociferous in its criticism.
However, these announcements dont make these virtual currencies, or trading in them, against the law....So, their status is in a curious limbotheyre neither legal nor illegal in India...
On Nov. 30, 2017, when investor frenzy was at a high with rising bitcoin prices, finance minister Arun Jaitley said the country doesnt recognise cryptocurrencies as legal tender....Almost a month later, the government cautioned people against investing in them, warning that they are similar to fraudulent investment schemes and have no legal status yet. There is a real and heightened risk of investment bubble (in virtual currencies) of the type seen in ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers, losing their hard-earned money, the finance ministry said in a notification on Dec. 29, 2017. Consumers need to be alert and extremely cautious as to avoid getting trapped in such ponzi schemes.