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With Attacks Soaring, India Races to Regulate Cryptocurrencies

  • Focus on banks, companies as ransomware, malware strikes rise
  • Banning trade in virtual currencies won’t improve security
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Gatecoin Sees Bitcoin at 5,000 by Year End

A giant cyberattack that crippled India’s largest container port in June provided a costly wake up call for a country determined to digitize its mostly-informal $2 trillion economy.

As the scale of the attack became clear, Finance Minister Arun Jaitley called an urgent meeting. Those invited included top officials from the home, technology and finance ministries as well as the central bank governor, financial markets regulator and the country’s top planner, according to the letter of invitation seen by Bloomberg.