Reserve Bank of India (RBI) has been repeatedly cautioning users, holders and traders of Virtual Currencies (VCs), including Bitcoins, about the financial, operational, legal and security related risks of dealing with such virtual currencies.
RBI has now prohibited banks from dealing in virtual currencies or providing services for facilitating any person or entity in dealing with or settling VCs. Such services include maintaining accounts, registering, trading, settling, clearing giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase / sale of VCs. If it is found that the bank accounts are being used for the above mentioned purposes, we will be constrained to close the accounts. Accordingly, you are advised not to use Deutsche Bank accounts or cards for purchase or any kind of dealing in crypto or virtual currencies.
Top reasons not to deal in Virtual Currencies (including Bitcoin):
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