Indian Government Raids Local Bitcoin Exchange
Big news out of the world’s second largest country, as India’s Enforcement Directorate (ED) has shut down a Bitcoin exchange in Ahmedabad. This move comes days after the Reserve Bank of India issued a warning for Indians to not buy or sell the cryptocurrency. Counting India, China and Thailand (which long ago forbade Bitcoin), that means more than one-third of the world’s population lives under a government that has actively or passively sought to curb Bitcoin use. In Ahmadabad, ED officials shut down trading platform buysellbit.co.in, which was found to be in violation of the Foreign....
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Just a few days after the Reserve Bank of India (RBI) issued adigital currency warning, Indian authorities started cracking down on local bitcoin exchanges. Within two days the first raids were carried out, although the owners of the platforms were not arrested and, at present, it does not appear that they have been charged with any crime. The raids were carried out by India's Enforcement Directorate, but now it seems that their colleagues at the Income Tax Department are just as keen to flex their muscle on digital currency outfits. The Hindu reports that taxmen paid a visit to....
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Possible Restrictions in Indian Crypto Regulation
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