Consider the following statements about Bitcoins:
- Bitcoin is a virtual currency that enables payment in a decentralised peer-to-peer network
- In India, bitcoins are controlled and regulated by the RBI
- Bitcoins are listed on Indian stock exchanges and can be used for commodity trading
Which of the above statements is/are correct?
Second statement is incorrect because bitcoins are not under control of RBI. It floats on a common network. RBI has not legalised bitcoin as a legal tender but has also not declared it unauthorized. HighKart.com became the first e-commerce site in India to exclusively accept bitcoins as a payment method.
This question is a part of GKToday's Integrated IAS General Studies Module