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currencies. Therefore, virtual currencies are neither currencies nor coins, it said in the first such formal statement from the government on the issue. S P 500 index. China has imposed a ban on virtual currencies and South Korea said on Thursday it would bring in measures to regulate speculation in them.
He told cnbc in February, We havent even got to the start line of cryptocurrencies. As transactions of VCs are encrypted, they are also likely being used to carry out illegal/subversive activities, such as, terror-funding, smuggling, drug trafficking and other money-laundering acts. These developments came amid a decline in the value of bitcoins from a peak of 19,511 on December 18 to around 15,000 now. Brian Kelly, founder of bkcm LLC, said that he likes both bitcoin and ethereum when it comes to cryptocurrencies.
The price of bitcoin and other VCs therefore is entirely a matter of mere speculation resulting in spurt and volatility in their prices. India has, however, not announced any curbs on cryptocurrencies. NEW delhi: India warned citizens against investing in virtual currencies such as bitcoin, ripple and ethereum, comparing them with pyramid schemes, reminding that these were not legal tender and lacked any regulatory permission or protection. CME Group and Cboe Global Markets Inc introduced futures contracts on bitcoins earlier this month. These are also being described as coins. The warning comes as Indian companies associated with the trade in virtual currency such as Unocoin, Global DCX and Coinsecure field queries looking to take advantage of bitcoins ride. In June, the tech investor tweeted that he believed bitcoin would surpass the price of gold: m/chamath/status/, tom Lee, of Fundstrat Global Advisors, told cnbc in June that bitcoin is a great store of value. These are also not legal tender. Bitcoin sceptics include JP Morgan chief executive Jamie Dimon who described anyone trading in it as stupid and warned that it would blow. Its the first such caution by the government on cryptocurrencies, although the Reserve Bank of India has hinta bitcoin kaatua previously issued vestors and other participants therefore deal with these VCs (virtual currencies) entirely at their (own) risk and should best avoid participating, said a finance ministry release. But while Warren Buffett has dubbed it a bubble, Microsoft founder Bill Gates has said bitcoin is better than currency.
In a June interview, Neu-Ner compared bitcoin to digital gold. There is, however, no physical attribute to these coins.