The Supreme Court is currently hearing a case between virtual money exchanges and the RBI, and the next hearing on the matter is scheduled for September 17.

Banga refers to the indictment of 12 Russian intelligence officers in the hacking of the DNC and for interfering in the US elections, saying the FBI had disclosed the Russian agents handled the most delicate transactions using Bitcoin.

Technology startups in the blockchain space around the world have raised funds by selling cryptocurrencies, or tokens directly to investors in initial coin offerings (ICOs), bypassing banks or venture capital firms as intermediaries.

Cryptocurrencies are not scalable and are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them, the Bank of International Settlements (BIS)said on Sunday in its latest warning about the rise of virtual currencies.

Kavita Gupta spent just 40 days at her home in the US last year. For the remaining part of the year, she was travelling different parts of the world searching for promising companies in the blockchain space.

Raj Kundra was summoned at the ED office in Mumbai and was asked questions about his involvement in a cryptocurrency trade - which is illegal in India.

According to digital currency group Coindesk, over $490 million were flushed out of the cryptocurrency market due to wallet hacks in 2017 alone. The report says so far, none of the perpetrators of these crimes have been brought to book.

The SIT recently held a meeting in the national capital during which it was briefed about the overall scenario of the operations of this virtual currency in the country.

The Reserve Bank of India moved to bar banks and other entities that it regulates from having any linkages to virtual currency dealers, leading to a plunge in Bitcoin and other cryptocurrencies on local exchanges on Friday.

RBI cracks down on Bitcoin, bans banks from dealing with cryptocurrency tradersThe Reserve Bank of India (RBI) has released a statement directing all regulated entities, including banks, to stop dealing with individuals and businesses dabbling in virtual currencies. This amounts to a ban on banks in dealing with companies or individuals that trade in cryptocurrencies. The RBI also said that it will soon issue a separate circular on this matter. By its own admission, this move is a...

Regulators hate it, investors love it. The great tussle to find the middle ground for cryptocurrencies...

This is another step towards making good Finance Minister Arun Jaitley's promise of a comprehensive central legislation to deal with the menace of illicit deposit-taking schemes made in his Budget Speech two years ago.

During the Union Budget 2018 speech, Finance Minister Arun Jaitley also made it quite evident that cryptocurrency is considered illegal by the government.

The buoyant cryptocurrency, whose meteoric rise to $19,000 mark in December took the Bitcoin frenzy to another level, has now fallen over 33 per cent to $7,000

After touching a record high of $19,000 in December 2017, Bitcoin has crashed to $8000 this week amid fear of global regulatory clampdown.

The I-T Department had conducted survey operations at bitcoin exchanges across India in December last year to ascertain the identity of traders and investors, transactions between them, bank accounts used for this, among others.

Even seasoned investors and hardcore supporters of Bitcoin don't deny that trade in cryptocurrency is an extremely risky affair but greed has made them addicted to this digital gamble.

Though India is still straddling the fence when it comes to taking a stand on cryptocurrencies - the finance ministry is no fan but the RBI has not banned digital currencies like bitcoin yet - retail investors in the country are already in a soup.