Bitcoin is quickly beginning to attract the attention of
regulators in a number of countries. After a flat-out ban in
Thailand and restrictions on banks in China, now several Indian
Bitcoin exchanges have suspended operations following a warning
from the Reserve Bank of India concerning digital currencies.
Issued December 24th, the statement outlines the risks of a
purely electronic wallet, unregulated transactions and value
fluctuations. It also contains what could be considered a
threat, however, stating that virtual currency users could be
breaking money laundering and terrorism financing laws -- one
report from the subcontinent suggests the government has carried
out the first raid on a Bitcoin exchange, too. Thus, some sites
have decided to close for the time-being, leaving notes on their
homepages expressing the need for clear legal guidelines before
trading can resume. Undoubtedly we'll see more countries take
steps towards regulation, especially as the price of currencies
rise. Nothing decreases somet