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At present, India neither prohibits allowed its use and trade, cryptocurrency market.
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At present, India neither prohibits allowed its use and trade, cryptocurrency market.
Recently virtual currencies were legalized and cryptocurrency exchanges are now regulated by Central Bank of the Philippines Bangko Sentral ng Pilipinas under Circular ; however bitcoin and other "virtual currencies" are not recognized by the BSP as currency as "it is neither issued or guaranteed by a central bank nor backed by any commodity. Dhaka Tribune. In this context, NBS points out that virtual currencies have not a physical counterpart in the form of legal tender and participation in such a scheme virtual currency is at your own risk.
