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Amid reports of his investments in cryptocurrency, veteran industrialist and former Tata Group Chairman Ratan Tata on Tuesday said he has no associations with cryptocurrency of any form. He took to the social media platform Twitter to issue an official statement on the investment claims. "I request netizens to please stay aware. I have no associations with cryptocurrency of any form," he noted in his tweet. The post further noted that any articles or ads stating his association with cryptos are absolutely untrue and meant to scam citizens".

Amid reports of his investments in cryptocurrency, veteran industrialist and former Tata Group Chairman Ratan Tata on Tuesday said he has no associations with cryptocurrency of any form. He took to the social media platform Twitter to issue an official statement on the investment claims. "I request netizens to please stay aware. I have no associations with cryptocurrency of any form," he noted in his tweet. The post further noted that any articles or ads stating his association with cryptos are absolutely untrue and meant to scam citizens".

Sharing a screenshot of an article that stated his "recent investment had experts in disbelief and major banks concerned" as an example, he wrote, "If you see any articles or ads mentioning my association with cryptocurrency, they are absolutely untrue and meant to scam citizens."

Sharing a screenshot of an article that stated his "recent investment had experts in disbelief and major banks concerned" as an example, he wrote, "If you see any articles or ads mentioning my association with cryptocurrency, they are absolutely untrue and meant to scam citizens."

Well, this isnt the first time that a tycoon has been linked to a scam. In 2021, Mahindra Group Chairman Anand Mahindra also denied investing in cryptocurrency, dubbing reports that claimed that he had done . Following those reports, Mahindra came out with a clarification similar to that of Tata. Mahindra highlighted in the statement that he had not invested a single rupee in cryptos, and dubbed those reports as completely fabricated & fraudulent".

Well, this isnt the first time that a tycoon has been linked to a scam. In 2021, Mahindra Group Chairman Anand Mahindra also denied investing in cryptocurrency, dubbing reports that claimed that he had done . Following those reports, Mahindra came out with a clarification similar to that of Tata. Mahindra highlighted in the statement that he had not invested a single rupee in cryptos, and dubbed those reports as completely fabricated & fraudulent".

As an asset class, cryptocurrency has left investors divided in India. Cryptocurrencies as a payment medium in India are not regulated by any central authority. In India, cryptocurrencies are classified as virtual digital assets and are subject to taxation.

As an asset class, cryptocurrency has left investors divided in India. Cryptocurrencies as a payment medium in India are not regulated by any central authority. In India, cryptocurrencies are classified as virtual digital assets and are subject to taxation.

Last year, the billionaire finance guru Warren Buffett said cryptocurrencies are not a productive asset and said he wouldn't buy the whole of bitcoin even for 25 US dollars.

Last year, the billionaire finance guru Warren Buffett said cryptocurrencies are not a productive asset and said he wouldn't buy the whole of bitcoin even for 25 US dollars.

Online scams, especially the ones related to cryptocurrency, are rising with the advancement of technology,

Online scams, especially the ones related to cryptocurrency, are rising with the advancement of technology,

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Ratan Tata dismisses rumours, says have no associations with cryptocurrency of any form' | Mint - Mint