1.) Linkedin - Allows me to connect to more professionals and helps my profile to get better job opportunities.
2.) Sending email in PM

Thanks for your input and I really appreciate it. Good to see that you are one one of the prominent members of the bitcoin community.

I have realized that many people here are traders who buy from an exchange/other traders or mine and sell it either in USD or even in INR (deposit in Indian Bank) at a some markup.
So, I guess the situation I have asked here is nothing more complicated than that and I could follow the same tax strategies. In this case, I am involved in both the roles though, buyer and seller.

I will follow up as per your advice with my CPA, with whom I file my taxes. Lets see if he has any take on it and I will update here.

Thanks for your input. You are a senior member and hope you know it for sure.

For me Money Laundering is about dirty money.
The situation I provided is where everything is accounted for and can be traced
to the bank accounts as after tax money. For me all is good as long as the money earned is legal and you paid your taxes.

Maybe there will be soon some registered remittance services that provide this option.

Anyways, I am new to cryto currency and I wouldn't do anything stupid. I will wait until things are more clear from regulators.

I am glad that Singapore already gave out some clear instructions and hope to see the same from US and Indian regulators.

In reference to the following lines...

"And I would like to add one more option
Bitcoin, can be sent and received, unlimited quantity and legal"..

Let us say I want to remit money (personal money, all taxes paid) to India from USA.

I would buy a bitcoin using an exchange in USA. My personal bank account will be used to purchase the bitcoin using USD.
Then I would transfer the bitcoin and sell it in another exchange in India and receive INR and deposit it into my NRO Bank Account.

Is this kind of remittance legal, i.e., to bypass the registered forex dealers like xoom.com or remittance services provided by Indian banks? Are there any tax implications on it?

Anyone used this site before? I have done a transaction with them and deposited money with them on Saturday.
I haven't heard from them till then. So wanted to check if anyone had any success getting the coins from them?