The indian central bank to double its efforts in the crackdown of Bitcoin

S Ganesh Kumar, executive director of the federal Bank of India, continues to assert his posture formal, the hostility of the government toward the crypto-currency is the most popular in the world. He pointed to the reluctance of India to authorize formally the use of Bitcoin in the country, but expressed reserved about the technology Blockchain.

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The RBI is adamant

“Our current position on Bitcoin,” said S Ganesh Kumar, executive director of the Reserve Bank of India (RBI), ” is that we will not use it for any type of payment. Mr Kumar has chosen the Hotel Trident in Mumbai to make his statement. In fact, the hotel is hosting this year one of the largest conferences bank of Asia. “This annual conference has become the ‘flagship event in the calendar of the members of any brotherhood bank and financial of the country “, one can read on the official Web-site of the conference.

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The indian government has not yet formalized the prohibition crypto-currencies

During the conference, Kumar has not ceased to reiterate the position of the RBI, according to which any user, owner, investor and trader of crypto-currencies will do so at their own risk. What is surprising is that two days ago, there was talk of the government planning to ban the use of crypto-currencies. However, we are still waiting for the official notification prohibiting their use. It is important to note that the ecosystem of crypto-currencies in India is very small. The Bitcoin is only accepted in some restaurants, and some markets of virtual currency, allowing users to make payments for the purchase of books or movie tickets. But in general, crypto-currencies are primarily used as an investment option.

Source : News.Bitcoin