It highlighted the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such virtual currencies. (links2exchange.net)
Such virtual currencies use computer - generated encryption to secure and track transactions, independent of a central bank. (courant.com)
«The Committee will (i) take stock of the present status of Virtual Currencies both in India and globally; (ii) examine the existing global regulatory and legal structures governing Virtual Currencies; (iii) suggest measures for dealing with such Virtual Currencies including issues relating to consumer protection, money laundering, etc; and (iv) examine any other matter related to Virtual Currencies which may be relevant.» (ethnews.com)