Srinagar: Jammu and Kashmir Police issued a advisory on Wednesday (January 2) warning people not to invest in them due to “excessive risk” associated with other currencies like bitcoin . Police said that such currency has not been recognized by the government and centrally funded institutions. A consultation issued by the Inspector General of the Crime Branch states, “The general public is not advised to make any kind of investment in other cryptocurrencies like bitcoin as there is a lot of risk.”
After BitCoin, now preparation of JioCoin, this is the complete planning of Reliance
Explain that in the year 2018 itself, the RBI had banned all the entities coming under its regulation and dealing in all cryptocurrencies including bitcoin . RBI had told all the entities coming under its regulation that no entity will deal in crypto currencies nor provide services to such person or entity that is investing in bitcoin or any kind of crypto currency.
Along with this, Finance Minister Arun Jaitley has also clarified that no crypto-currency like Bitcoin is legally valid (legal tender). Due to which the government will also not encourage this kind of currency.