Author Archives: Vijayashankar Na

The RBI advisory of 24th December 2013 has set an agenda for the Bitcoin community as to the future of Bitcoin industry in India. The advisory was fine as far as the public was concerned since it was the duty of … Continue reading →

Dr K.C.Chakaravarthy, Dy Governor of RBI has always been pragmatic when it comes to security issues in the Bank. He has also been always pro-customer minded when dealing with Banking issues. True to his reputation, he has come up with … Continue reading →

On the 24th of December 2013, RBI gave an advisory  on Bitcoins. Copy of the advisory can be found here. The caution was meant for the users, holders and traders of Virtual Coins (VCs) including Bitcoins, about the potential financial, … Continue reading →

Bitcoin is a unique concept of an instrument that can be used for settlement of consideration between persons who form part of a digital community. It was developed as a peer to peer payment settlement system in the Internet world. … Continue reading →

According to wikipedia, the total black money of Indians in the Swiss Banks is around US $ 1.2 Trillion. Seen in this context, the Enforcement Directorate accusing the Bitcoin system as a tool of hawala appears a joke. At present … Continue reading →

The Enforcement Directorate officials who have raided on two Bitcoin traders in Ahmedabad have tried to justify their action by stating that “Bitcoin may be used by hawala traders”.  A senior official of the ED is reported to have stated … Continue reading →