| Surging interest in Bitcoin is not translating into commensurate investment, as most potential investors are bogged down with apprehensions over virtual currencies, owing to the lack of regulation. The Reserve Bank of India (RBI) last cautioned investors about the risks involved when dealing with virtual currencies. It said the value of such currencies seems speculative as they are not backed by assets. Their location of storage, called e-wallets, can be hacked and access to the wallets can be lost or stolen.
The legal status of use of bitcoins as currencies and for trading is unclear, RBI had warned. The Central bank, however, stopped short of regulating it or banning it. Potential investors say they would be comfortable investing in Bitcoin if RBI issued guidelines...............................................Full Article: Source |