A system administrator, Zhongmou was arrested by Beijing police for stealing 100 bitcoins which is worth $1.1 million. The police received a complaint from a company stating that their internal network had been invaded by a hacker from a remote location. After an investigation, it arrived that the system was accessed through ‘password-protected protocol’ which signifies that the suspect is internally linked to the company.
The Finance Minister of India, Arun Jaitley, during the session at the parliament commented that bitcoins is not a legal tender in our country. He emphasized about the exchanges identified by the government and also about the conduct of investigation suspected to have evaded tax. He cautioned the citizens with regard to investing in cryptocurrency. He added that the government is looking forward to receive a report from interdisciplinary committee proposing regulatory framework for cryptocurrency.