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India's central bank once again issued a bitcoin warning, not allowing any business to carry out trading services

The Reserve Bank of India (RBI) has issued a new warning against cryptocurrencies, which is the second time since this year.

In a brief statement released December 5, the Reserve Bank of India (RBI) issued a warning on "Encrypting Money Users, Holders and Traders", specifically bitcoin. This echoed the central bank's comments made in February of this year, while the Bank of India issued a warning for bitcoin for the first time in late 2013.

As before, RBI said they did not license any Indian-based company to operate cryptocurrency, saying:

"The RBI has clarified that it has not given any entity / company to run these projects or trade Bitcoin or any digital currency."
In the new statement, in addition to its previous position, it also included a warning to the ICO, emphasizing "notable blowout" in the overall cryptocurrency market value.

India's central bank said:

"After a massive VC valuation explosion and rapid ICO growth, the RBI reiterated the concerns expressed in previous press releases."

The move comes as India is uncertain about the regulation of cryptocurrencies. According to a report last month, the Supreme Court of India asked the government to respond to a petition asking for clarification on the regulation of cryptocurrencies. Officials from several government agencies have been studying a cryptocurrency regulatory framework, but so far no public policy has been publicly available.