The government of Maharashtra, India ordered a special investigation team (SIT) on Tuesday to investigate bitcoin fraud cases reported from across the state. According to LiveMint report, lookout notices against companies found cheating have been issued by the government. The announcement was made by the minister of state home Deepak Kesarkar for a home in the legislative council.Source
If a situation arises, the government is ready to seek help from the Enforcement Directorate, Kesarkar added. Kesarkar told Mint that SIT would be looking into all the cases reported. “No time frame has been given to the SIT to complete the probe. Each case is at a different stage of investigation and will take its own time,” Kesarkar said.
Moreover, a written reply was issued by the government in the legislative council. It said that says though the Reserve Bank of India (RBI) had not recognized cryptocurrencies such as bitcoin (BTC) it has not termed it “illegal” either.
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