Use of Bitcoins

Government Releases

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To make a rapid move towards using digital cash, the government is planning to bring in changes in the way money is handled on mobile wallets.The government is mulling over bringing insurance in the segment, on the lines of debit and credit cards. It has already held three meetings with mobile wallet and insurance companies and hopes to bring in the new regulations to make it mandatory for mobile wallets to insure money."The discussions have been quite fruitful. We would be able to bring in the new rules soon. It is extremely important that users know and understand that their money is safe and even if there are technical glitches, they get their money back," said an information technology (IT) ministry official.The Ministry of Electronics Information Technology will soon come out with the rules. The government in an effort to make cyber laws tougher and more effective has also decided that cyber labs, which examine evidence, be notified soon. This would help make IT-based evidence adm

Mobile wallets may soon have to insure customers' cash

Business Standard

BEIJING (Reuters) - China's central bank will continue to conduct spot investigations on bitcoin exchanges, its Beijing head office said on Wednesday, in a statement on its website.

Page 151 - Cryptocurrency

Use of Bitcoins

Mobile wallets may soon have to insure customers' cash

China central bank to keep up spot checks on bitcoin exchanges