Bitcoin gang gets 67 new e-currencies; value grows to $13 billion - The Economic Times

NEW DELHI: 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 $9 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 could come in way of launch of ...

Full article: http://economictimes.indiatimes.com/tech/internet/bitcoin...

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