RATE Group | Indian Police Warns Against Dealing With Bitcoin And Other Cryptocurrencies
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Indian Police Warns Against Dealing With Bitcoin And Other Cryptocurrencies

13 Feb Indian Police Warns Against Dealing With Bitcoin And Other Cryptocurrencies

Posted at 04:03h in Cryptocurrency News by

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India remains one of the countries in the world with regulatory uncertainty when it comes to cryptocurrencies. While the Reserve Bank of India (RBI) has already clarified that digital assets are not illegal in the country, the Police department of Tamil Nadu has issued a fresh warning that the public should steer clear of cryptocurrencies.  

Trade Cryptocurrency At “Your Own Risk”

According to local news media, the Hindu, the Economic Offences Wing noted that they had received several complaints from investors who were scammed through cryptocurrency investments. 

While the perpetrators of the registered cases were arrested, the police authority is now advising the public to avoid dealing with cryptocurrencies, including Bitcoin, Ether, XRP, and others. As per the warning, those who continue to invest in cryptos would have themselves to blame, considering that India’s central bank has not yet given the go-ahead to companies to offer cryptocurrency-related products or services.

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