Intelligence agencies advise supervision of Bitcoin misuse

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NEW DELHI: Intelligence agencies have warned that practical currencies such as Bitcoin might be used to account bootleg activities and pierce supports by hawala sell and a supervision will demeanour into a emanate with a Reserve Bank of India (RBI) to safeguard such new remuneration methods are not misused.

“At benefaction we have no resource to understanding with such mediums. The imagination from RBI will be used to come with specific measures to tackle such issues,” pronounced a supervision central wakeful of a concerns lifted by a comprehension establishment.

Intelligence agencies have also familiar a supervision that in some countries practical banking platforms such as Silk Road and Liberty Reserve were attempted as unregistered income transmitters.

“Specific inputs have been perceived that in some cases these practical currencies were used for hawala transactions,” pronounced another official, who did not wish to be identified. One bitcoin is during benefaction equal to around $640.

“As of now it is not bootleg to buy or sell Bitcoins or any other banking since they are on counterpart to counterpart sell platforms. We are not intending to stop it though ensure

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