Reserve Bank of India for the third time warned about the risks of cryptocurrencies

Reserve Bank of India (RBI) has again issued a warning about the risks associated with the use of cryptocurrencies, in particular bitcoin.

RBI also reiterated his position that he neither authorized nor licensed activities «of any business or company to work with cryptocurrency», repeating a second warning from February 2017.

The first warning of the Central Bank of India has published in December 2013 – it says that the creation, trade and use of bitcoin as means of payment is not authorized.

Unlike previous warnings, the latter includes a warning about the risks associated with the ICO.

«Due to significant sdvigov to many venture capitalists and fast growth ICO, RBI warns about the risks associated with this form of investment,» the press release of the Central Bank.

Despite the warnings of the regulator, the Indian retail investors continue to use cryptocurrencies – bitcoin is not officially recognized by the authorities, but not forbidden.

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