Dy Governor of RBI Clarifies on Bitcoins

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 an honest admission that at this point of time RBI has no plans to come up with a regulatory framework for Bitcoins. He says that RBI is neither supporting the system or coming up with any adverse regulation. He is candid to admit ..”Whether it is legal or illegal, we don’t know”.

See details here

We hope the ED shows the same pragmatism in dealing with the raids they have already conducted.


Related Report in domainb.com

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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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