ALSO READThird time this year: RBI again warns against bitcoins Beware of cryptocurrencies! Now, S Korea bans raising money through coin offerings What are initial coin offerings and why are investors flocking to them? Go ahead, try to stop initial coin offerings RBI initiates PCA against Bank of Maharashtra as bad loans rise
"In the wake of significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBI reiterates the concerns," the central bank said in a statement.
The apex bank reiterated its stand that "it has not given any licence or authorisation to any entity or company to operate such schemes or deal with Bitcoin or any VC".