The decision was made by CBI"s supreme committee in charge of fighting money-laundering.
The digital currencies were traded through internet platforms (tools) before CBI"s decision.
Digital currencies have the option to be used for money-laundering, supporting terrorism, and exchange of sums between wrongdoers, the CBI circulation said.
Bitcoin does not abide by any governing rules and regulations in any country and no government or bank round the globe monitors or supervises it.
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary.
These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Source: Farsnews - Date: (23 April 2018)