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When bitcoin was a thing last year, there was crackdown by financial regulators in India on many bitcoin users. I admit I don’t understand the full technicalit
by godelmachine 8y ago
When bitcoin was a thing last year, there was crackdown by financial regulators in India on many bitcoin users.
I admit I don’t understand the full technicalities but it’s better to err on the side of caution and stay away from it.
Hence, direct bank online transfer.
- lucb1e 8y agoWhy though? If they see BTC as goods then it's the same as buying a piano; if it's currency then it's the same as buying euros. Is either of those things illegal in India? Also I assume this would be a small amount, not something that would have a tax impact regardless of whether it's a good or currency.
- godelmachine 8y agoAs valid as your arguments are, I wouldn't like to mess with India's version of Internal Revenue Service, no sir :) They have already outlawed bitcoin publicly. That's their official stand.
- lucb1e 8y agoAlright, thanks for sharing your situation! (hope that's the right word)