According to an Indian publication, The Economic Times, government agencies in the country have concerns about illegal activities that could be tied to bitcoin. An unnamed source explained that the SIT taskforce is currently drafting a report about these concerns, and the final draft should be completed in a month.
“There are concerns on the way [bitcoin] operates — Some unaccounted money could be flowing into [cryptocurrencies],” explained the source familiar with the matter.
Following this statement, the news outlet reported that India’s income tax agency is also concerned with money laundering and illegal transmissions. “There are issues with large investments flowing into this currency,” said a senior tax department official. Moreover, an Indian central bank official told the press on September 13 that the institution still feels uneasy about bitcoin. “In regard to non-fiat cryptocurrencies, I think we are not comfortable,” explained Sudarshan Sen, Executive Director at the Reserve Bank of India (RBI).
Full story at http://bit.ly/2ylHIPf
Source: Bitcoin News
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