Whether BIT Coin will be going to ban in India? _BIT Coin is Illegal in India

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RBI had warned that any user, holder, investor and trader dealing with virtual currencies would be doing so at his/her own risk.

The government on Tuesday said use of virtual currencies like Bitcoins is not authorised by the RBI and could result in breach of anti-money laundering provisions.

The RBI had cautioned users, holders and traders of virtual currency, including Bitcoin, about the potential financial, legal and security risks arising from their usage.

The government on Tuesday said use of virtual currencies like Bitcoins is not authorized by the RBI and could result in breach of anti-money laundering provisions.

The RBI had cautioned users, holders and traders of virtual currency, including Bitcoin, about the potential financial, legal and security risks arising from their usage.