How Bitcoins are used Money Laundering Cases

Is virtual currency such as bitcoin used to make money laundering? The government has constituted a committee to go to the bottom of the matter, which will consider all issues related to virtual currency.

The committee headed by the Special Secretary of the Department of Economic Affairs, Ministry of Finance will report in three months. The Ministry of Finance says that the committee includes the revenue department, home ministry, Reserve Bank, SBI and the officials of the Ministry of Information Technology.

The ministry says that the committee will consider the existing framework of virtual currency like Bitcoin in India and the legal framework in this regard abroad. The committee will also suggest how to protect the interest of consumers from virtual currency like bitcoins.

Also, it will also consider whether there is no business going on to legalize black money through it. Experts have raised questions on virtual currency worldwide. The Reserve Bank has also warned about this from time to time.

Unlawful in India Some time ago the Finance Ministry officials told the Standing Committee of Parliament that bitcoin is illegal in India. Ministry officials have given this information to the Parliamentary Committee on Finance Affairs, headed by Congress member Veerappa Moily.

The issue of Parliament has also been raised in Parliament, the issue of Bitcoin has also been raised in the Parliament. Bharatiya Janata Party leader Kirit Somaiya, who raised this issue in Parliament, says that it is a global Ponzi scheme. The government and the RBI should take this issue seriously and take action seriously. He said that thousands of crores of rupees are engaged in this scheme, so people should be careful about this.

Beginning in 2009: For the first time in 2008, an article was published in relation to Bitcoin. But it was available in 2009 as open source software for people's use.

This is made by anonymous computer programmer or group of Satoshi Nakamoto. It is the secret to this name, whose name is or where it is. Well experts believe that it was made in China or Japan.

In 1.5 crores of bidakoin trends: There are estimated to be around 15 million bitcoins in the world. There is no control over any government on this. But, it can be bought or sold directly anywhere in the world.

Bitcoin walts are available to keep them. They are also replaced with official currency. Since it is in code or letters, so it can not be seized nor destroyed.