Indian feds raid Bitcoin exchange as other traders suspend service …
On Tuesday, the Reserve Bank of India sent out a stern warning against trade in Bitcoin and other virtual currencies, stating that the currencies were not approved by the central bank and more ominously that “the traders of VCs on such platforms are exposed to legal as well as financial risks.” It was an ambiguous message, seen by many as a restatement of the fundamental risks of virtual currency, but just a few days later, one exchange found out about those legal risks the hard way.On Thursday, officers from India’s federal Enforcement Directorate raided the offices of buysellbit.co.in, a prominent exchange in the Indian city of Ahmedabad. “We have found that through the website 400 persons have recorded 1,000 transactions,” one official told DNA …
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On Tuesday, the Reserve Bank of India sent out a stern warning against trade in Bitcoin and other virtual currencies, stating that the currencies were not approved by the central bank and more…
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Indian feds raid Bitcoin exchange as other traders suspend service …
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