Category Archives: bitcoin

On the 24th of December 2013, RBI gave an advisory  on Bitcoins. Copy of the advisory can be found here. The caution was meant for the users, holders and traders of Virtual Coins (VCs) including Bitcoins, about the potential financial, … Continue reading →

Bitcoin is a unique concept of an instrument that can be used for settlement of consideration between persons who form part of a digital community. It was developed as a peer to peer payment settlement system in the Internet world. … Continue reading →

According to wikipedia, the total black money of Indians in the Swiss Banks is around US $ 1.2 Trillion. Seen in this context, the Enforcement Directorate accusing the Bitcoin system as a tool of hawala appears a joke. At present … Continue reading →

The Enforcement Directorate officials who have raided on two Bitcoin traders in Ahmedabad have tried to justify their action by stating that “Bitcoin may be used by hawala traders”.  A senior official of the ED is reported to have stated … Continue reading →

Naavi.org has already discussed the legal status of Bitcoin in some of the earlier posts. Here is another informative and systematic appraisal of the Bitcoin’s  legal status by Mr Vipul posted in Center of Internet Society. The views expressed are … Continue reading →

The raids conducted by the Enforcement Directorate in Ahmedabad on Bitcoin traders appear at first glance to be a blow to the Bitcoin community. Temporarily there will be fear and a suspicion that the Bitcoin bubble has been pricked. Holders … Continue reading →