Tag Archives: currencies

Finance Ministry cautions against bitcoin, says ‘virtual currencies are like ponzi schemes’

The Ministry of Finance has cautioned people against investing in virtual currencies and compared them to¬†ponzi schemes. “There has been a phenomenal increase in recent times in the price of Virtual ‘Currencies’ (VCs) including bitcoin, in India and globally. The VCs don’t have any intrinsic value and are not backed by any kind of assets. The price of bitcoin and ... Read More »