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IAMAI says RBI has no authority to ban cryptocurrencies

Thursday, August 15, 2019, 11:20 AM

Challenging a Reserve Bank of India (RBI) circular prohibiting banks and financial institutions from providing services in relation to cryptocurrencies, the Internet and Mobile Association of India (IAMAI) told the Supreme Court that the RBI did not have the authority to place a ban when there was no legislative policy in place for virtual currencies.
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Bitcoin investment scam in Gujarat could be worth Rs 500 crore: CID

Wednesday, August 15, 2018, 7:57 AM

Investors in Gujarat may have lost over Rs 500 crore in an alleged fraudulent scheme floated by the promoters of BitConnect, a cryptocurrency platform which shut down earlier this year, police today said. Director General, Criminal Investigation Department (CID) Ashish Bhatia said that many of the victims were yet to come forward.