29 Dec '13, 8am

Bitcoin gang gets 67 new e-curriences; value grows to $13 bn - The Hindu

Bitcoin gang gets 67 new e-curriences; value grows to $13 bn - The Hindu

TOPICS economy, business and finance As regulatory glare intensifies on bitcoins due to possible money laundering, cyber security and other risks, over five dozen other virtual currencies have come under the scanner and include a desi version by name of ‘laxmicoin’ The total value of these 67 digital currencies in circulation over internet has reached nearly $ 13 billion (over Rs. 80,000 crore), out of which bitcoin alone accounts for over $ nine billion, according to market estimates. However, total value of bitcoin and other such virtual currency trades in India is estimated to be worth only a few crores as of now, although NRIs living abroad are expected to be dealing with bitcoins in a big way. According to those dealing in bitcoins and other such currencies, RBI’s caution notice and action initiated by enforcement agencies in the country has been a major dampener and ...

Full article: http://www.thehindu.com/business/Economy/bitcoin-gang-get...

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Bitcoin gang gets 67 new e-currencies; value gr...

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Bitcoin gang gets 67 new e-currencies; value gr...

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