{"id":28270,"date":"2018-10-24T11:33:55","date_gmt":"2018-10-24T06:03:55","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=28270"},"modified":"2018-10-24T11:33:55","modified_gmt":"2018-10-24T06:03:55","slug":"cryptocurrencies-will-boost-illegal-transactions-rbi-to-sc","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cryptocurrencies-will-boost-illegal-transactions-rbi-to-sc\/","title":{"rendered":"Cryptocurrencies will boost illegal transactions: RBI to SC"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/news\/national\/cryptocurrencies-will-boost-illegal-transactions-rbi-to-sc\/article24476582.ece\">Cryptocurrencies will boost illegal transactions: RBI to SC<\/a><\/p>\n<p><strong><u>News:<\/u><\/strong><\/p>\n<ol>\n<li>The RBI recently said dealing in cryptocurrency will encourage illegal transactions.<\/li>\n<\/ol>\n<p><strong><u>Important facts:<\/u><\/strong><\/p>\n<ol start=\"2\">\n<li>Earlier also, the RBI has issued a circular prohibiting use of these virtual currencies.<\/li>\n<li><strong><u>Cryptocurrencies:<\/u><\/strong><\/li>\n<\/ol>\n<ul>\n<li>Cryptocurrencies are \u201ca stateless digital currency\u201d in which encryption techniques are used for trading.<\/li>\n<li>These currencies operate independently of a central bank like the RBI, \u201crendering it immune from government interference\u201d.<\/li>\n<\/ul>\n<ol start=\"4\">\n<li>A committee has been set up by the Centre to deal with issues relating to cryptocurrencies.<\/li>\n<li>The apex court had also sought the assistance of Attorney General K.K Venugopal in the matter.<\/li>\n<li>The RBI, through its circular, had directed banks and financial institutions to freeze the bank accounts of those individuals and companies dealing in the illegal trade of virtual currencies.<\/li>\n<li>One of the Petitioners gave directions to the Centre to take steps to restrain sale and purchase of illegal cryptocurrencies like Bitcoins. These currencies were being traded openly for \u201cillegal activities\u201d like funding terrorism and insurgency.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies will boost illegal transactions: RBI to SC News: The RBI recently said dealing in cryptocurrency will encourage illegal transactions. Important facts: Earlier also, the RBI has issued a circular prohibiting use of these virtual currencies. Cryptocurrencies: Cryptocurrencies are \u201ca stateless digital currency\u201d in which encryption techniques are used for trading. These currencies operate independently&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cryptocurrencies-will-boost-illegal-transactions-rbi-to-sc\/\">Continue reading <span class=\"screen-reader-text\">Cryptocurrencies will boost illegal transactions: RBI to SC<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-28270","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704644844},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=28270"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28270\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=28270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=28270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=28270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}