India bitcoin exchange raid

It's a good target to shift blame for the failure of their incompetent policies. Income Tax evasion is a major problem in India so the IT-department is well within it's right to investigate. This move could very well result in quicker regulatory policies coming into effect in the near future. There's a lot of room for cryptocurrency to grow in India if efforts are channeled in a positive way.

For the time being we can only sit tight and watch what the government does. If you haven't filed your returns in the past few years, I would ask you to re-consider and do it right away. The government cannot take away your Bitcoin but if you are holding Bitcoin your hard earned investments on exchanges, it's always a good idea to store it in a secure wallet. If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you: This shows the influence of Cryptocurrency in India.

Seems Politicians are annoyed at seeing some people making good money without paying them Haftaa. Pay your taxes before due date. Well said mirhimayun Also, firepower - so basically our money is safe in Zebpay right - as a proper KYC is done by them.

Blockchain technology marks the end of government control over our money, and eventually it will replace the government itself. That means Bankers are afraid! And people from India should unite and show them all of this works.

Hi friend, I am little bit scared now. Can our government completely banned it from circulation. It's a decentralized currency so it became difficult for them. I want to ask if we aquare bellow I don't understand what will happen in near future.

Thanks for sharing such a valuable information. Friend don't you like to upvote my post any more? Without your help I am nothing here, so please if you don't mind please visit my too. By the way if we convert our money from bitcoin to Indian rupee, is it showing in our account that it is coming from bitcoin.

Please share with me, Have a good night friend. No govt can ban or curb circulation of Bitcoin. Always good to file your returns as long as you have income irrespective of your income slab.

It actually took them a lot more time than I anticipated tbh. Expected them to do this before the demonetization coz clearly this a huge escape route for black money even the big whales could slip away slyly.

They havn't been able to curb black money and never will as long the govt remains corrupt they will never harm their own interests! Indian Government want a cut in whatever we do. Where does this money go finally. CME will begin initial lists of bitcoin futures on December Bitcoin enthusiasts hope that the launch of bitcoin derivatives will allow institutional investors to invest in the digital currency trend, helping to make bitcoin a legitimate asset class and pave the way for an exchange-traded fund.

This is actually good news, it means they know it's here to stay and they have to deal with it. It's better then the law in the U.

They are no restrictions as to where you can exchange bitcoin. Indian government may not really understand what a decentralized currency means. So their action infringes the fundamental right to freedom of her citizens, an exercise in futility.

Just another reason to declare cryptocurrency profits on one's taxes I'll be paying full taxes on all of mine, that's for sure. The government is trying to create a counterbalance to crypto-currencies, but they will be circumvented. It's no secret that this is only the beginning and the crypto-currencies will still show themselves with the best hand, giving those who already today damp their money in them to get a profit In Ukraine, politicians buy bitcoins massively because in our country this is not recognized as a currency and therefore not taxed.

Here you can have a lot of money in crypto, but if you take away a large amount of money, you can have great troubles. I agree with the consensus and thank you for posting. Just like with futures trading starting in the US, former FED chairman Greenspan making comments, Russia evaluating trading oil in Bitcoin, etc the Indian government is legitimizing cryptocurrency with their actions. The debate on whether or not they are taking the right actions is for the people to decide but the news itself should be viewed positively.

Telling people about it, how it works, what the benefits to humanity is etc etc. I have long been in the minority. But that is starting to change. Mainstreaming crypto requires protections for users. As onerous as it may seem. It really is for the common good.

It will take some time for them to get used to the ways of crypto. Hopefully they won't mess it up like they did during the demonetization days. The identity of the buyer can only be traced while buying from exchanges.

Which was a terrible move for the economy. Indian government has failed to curb and reduce corruption and Bitcoin is their latest target. It's a good target to shift blame for the failure of their incompetent policies.

Income Tax evasion is a major problem in India so the IT-department is well within it's right to investigate. This move could very well result in quicker regulatory policies coming into effect in the near future. There's a lot of room for cryptocurrency to grow in India if efforts are channeled in a positive way. For the time being we can only sit tight and watch what the government does.

If you haven't filed your returns in the past few years, I would ask you to re-consider and do it right away. The government cannot take away your Bitcoin but if you are holding Bitcoin your hard earned investments on exchanges, it's always a good idea to store it in a secure wallet. If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you: This shows the influence of Cryptocurrency in India.

Seems Politicians are annoyed at seeing some people making good money without paying them Haftaa. Pay your taxes before due date. Well said mirhimayun Also, firepower - so basically our money is safe in Zebpay right - as a proper KYC is done by them. Blockchain technology marks the end of government control over our money, and eventually it will replace the government itself. That means Bankers are afraid!

And people from India should unite and show them all of this works. Hi friend, I am little bit scared now. Can our government completely banned it from circulation. It's a decentralized currency so it became difficult for them.

I want to ask if we aquare bellow I don't understand what will happen in near future. Thanks for sharing such a valuable information. Friend don't you like to upvote my post any more? Without your help I am nothing here, so please if you don't mind please visit my too. By the way if we convert our money from bitcoin to Indian rupee, is it showing in our account that it is coming from bitcoin. Please share with me, Have a good night friend. No govt can ban or curb circulation of Bitcoin.

Always good to file your returns as long as you have income irrespective of your income slab. It actually took them a lot more time than I anticipated tbh. Expected them to do this before the demonetization coz clearly this a huge escape route for black money even the big whales could slip away slyly. They havn't been able to curb black money and never will as long the govt remains corrupt they will never harm their own interests!

Indian Government want a cut in whatever we do. Where does this money go finally. CME will begin initial lists of bitcoin futures on December Bitcoin enthusiasts hope that the launch of bitcoin derivatives will allow institutional investors to invest in the digital currency trend, helping to make bitcoin a legitimate asset class and pave the way for an exchange-traded fund.

This is actually good news, it means they know it's here to stay and they have to deal with it. It's better then the law in the U.

They are no restrictions as to where you can exchange bitcoin. Indian government may not really understand what a decentralized currency means.

So their action infringes the fundamental right to freedom of her citizens, an exercise in futility. Just another reason to declare cryptocurrency profits on one's taxes I'll be paying full taxes on all of mine, that's for sure. The government is trying to create a counterbalance to crypto-currencies, but they will be circumvented. It's no secret that this is only the beginning and the crypto-currencies will still show themselves with the best hand, giving those who already today damp their money in them to get a profit In Ukraine, politicians buy bitcoins massively because in our country this is not recognized as a currency and therefore not taxed.

Here you can have a lot of money in crypto, but if you take away a large amount of money, you can have great troubles. I agree with the consensus and thank you for posting. Just like with futures trading starting in the US, former FED chairman Greenspan making comments, Russia evaluating trading oil in Bitcoin, etc the Indian government is legitimizing cryptocurrency with their actions. The debate on whether or not they are taking the right actions is for the people to decide but the news itself should be viewed positively.

Telling people about it, how it works, what the benefits to humanity is etc etc. I have long been in the minority. But that is starting to change. Mainstreaming crypto requires protections for users. As onerous as it may seem. It really is for the common good. It will take some time for them to get used to the ways of crypto.