[Source]

Source: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2127370

Financial Intelligence Unit India (FIU IND) issues compliance Show Cause Notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs). FIU IND writes to Ministry of Electronics and Information Technology to block URLs of the nine entities operating illegally without complying with the provisions of PML Act in India.

On December 28, 2023, following press release has been issued: https://pib.gov.in/PressReleseDetail.aspx?PRID=1991372

List of exchanges mentioned in the press release...

• Binance
• Kucoin
• Huobi
• Kraken
• Gate.io
• Bittrex
• Bitstamp
• MEXC Global
• Bitfinex

[Report]

Report: https://www.reuters.com/world/india/indias-money-laundering-rules-apply-crypto-trade-govt-notification-2023-03-08/

Legal explanation by tech lawyer Jaideep Reddy...

Crypto & NFT businesses are now 'reporting entities' under India’s Prevention of Money-Laundering Act (PMLA). Contrary to some Whatsapp chatter, this does not mean that they are charged under the PMLA for any offence! The implication is that such businesses need to follow similar reporting standards and KYC/AML norms to other reporting entities like banks, securities intermediaries, payment system operators, etc. In other words, KYC norms are no longer a best practice but a legal obligation.

Also, such businesses now have the legal status to report suspicious transactions to the Financial Intelligence Unit (FIU).

Happy to say we had made this recommendation as far back as Dec 2018, and the notification has come exactly under the suggested provision.

An AML regime is the first step towards effective regulation of intermediaries.

It would have been ideal though to have an explicit transitory provision so that covered entities had more time and certainly while getting their compliance processes in place.

Source: https://twitter.com/jrtechlaw/status/1633338812242731009

[Source]

It has been reported in Crypto India Community that people, who were involved with Crypto in FY 2012-13 period, are getting IT notice. I'd like to know if anyone from here has also got such notice? If yes, did not you pay taxes on your Crypto sales proceeds at that time?

Source: https://www.reddit.com/r/CryptoIndia/comments/tugwjk/pic_of_ed_notice_for_crypto_rcvd_by_someone/

[Mumbai Metro]

Mumbai Metro





Pune Street





Kolkata Flyover

More instances mentioned in Source: https://reddit.com/r/CryptoIndia/comments/ru8y13/not_the_adoption_you_want_but_the_adoption_you_see/

[News 18]

News 18: Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

The Times of India: India to consider allowing crypto trading for some investors

NDTV: Crypto Bill Will Regulate, Not Ban, Claim Industry Sources: 10 Facts

In last 24 hour, USDC/USDT pool on Uniswap has generated $20k in fees out of $143m total locked value. This is ~5% per annum. I am looking for some better return.

Please note that, I do not wish to risk the principal amount anyway. Return is preferable in StableCoin, instead of some other token.

[September 03, 2021]

September 03, 2021

- Govt plans to bring a bill, cryptocurrencies to be treated as commodity

- https://economictimes.indiatimes.com/news/economy/finance/virtual-currencies-govt-plans-to-bring-a-bill-cryptos-to-be-treated-as-commodity/articleshow/85885645.cms


September 10, 2021

- RBI Governor Shaktikanta Das expresses 'serious concerns' on financial stability of cryptocurrency

- https://www.moneycontrol.com/news/business/have-serious-major-concerns-on-cryptocurrency-says-rbi-governor-shaktikanta-das-7450371.html


What is going on?

[Note]

India’s crypto industry is launching a campaign to help you email your MPs #IndiaWantsBitcoin

It’s time to tell your elected leader that you care about Crypto innovation & it should be regulated positively.

Spread the word and contribute.

https://IndiaWantsBitcoin.org


Note: If you are not wearing a signature, you may wear this for the time being to help Crypto industry in general.

Code:

[center][size=25pt][b][url=https://indiawantsbitcoin.org/][color=orange]India[/color] [color=black]Wants[/color] [color=limegreen]Bitcoin[/color][/url][/b][/size][/center]

Generally, when any of our thread/post is removed by a forum moderator, we receive a message for the same. Yesterday, I created a thread in Ivory Tower regarding prospect of Alt coins in 2020. I can not find the thread today, while no message has been received either! Is this normal?

[India Forum]

More than a year ago, I requested for a moderator for India forum - https://bitcointalk.org/index.php?topic=3125174.0. From that thread itself, it is evident that the sub was turning into a garbage. Since then, due to constant reporting and monitoring, the main board of the sub has improved a lot. Scams are also under control due to enabled trust after this request - https://bitcointalk.org/index.php?topic=5044745.0. I guess, it is time to reshape the sub for better management. Below are my suggestions...

India Forum: https://bitcointalk.org/index.php?board=89.0

1. Please unpin all the pinned threads except for Welcome to Indians. Information in rest of the threads are mostly outdated.

2. Merge Mining (India) with main board, i.e. India. Last post on it is on July 31, 2019 and that sub is pretty inactive for long.

3. Merge Marketplace (India) with main board, i.e. India. Content has no distinct difference than the main board.

4. Do not allow thousands of threads inside Regional Languages (India). Have one thread for each language.

5. Merge Press & News from India with main board, i.e. India. Content has no distinct difference than the main board.

6. Alt Coins (India) does not serve any extra purpose over Announcements (Altcoins). So, better merge it with that. At the same time, allow basic Alt coin discussions (not announcement or promotion) on main board, i.e. India.

7. Merge Buyer/ Seller Reputations (India) with main board, i.e. India. Content has no distinct difference than the main board.

8. Off-Topic (India) does not serve any extra purpose over Off-topic. So, better merge it with that.

https://bitcointalk.org/index.php?action=reportlist;mine

["India has proposed a jail term of one to ten years for those who mine, hold or sell cryptocurrencies."]

Lets assume this tweet is true - https://twitter.com/Nikunj_Ohri/status/1136823903605723137

"India has proposed a jail term of one to ten years for those who mine, hold or sell cryptocurrencies."

What if this become law? How do you plan for your next course of action (and suggest others)?

p.s. Any attempt to divert the discussion with "I believe this will not become law" etc. will be outright deleted.

...

Update on July 22, 2019: https://twitter.com/SecretaryDEA/status/1153302518815834119

https://dea.gov.in/sites/default/files/Approved%20and%20Signed%20Report%20and%20Bill%20of%20IMC%20on%20VCs%2028%20Feb%202019.pdf

[Thread in question]

Thread in question: PANDORA.gives - 1098% per year or 3% every day, decide for yourself

Archive: http://archive.is/dXbHc

IMHO, this type thread is best suited @ Investor-based games. But, my report has been marked as Bad.

India sub-forum...

1. Does NOT have Trust enabled. So, Get Rich Quick newbies easily fall for these scams and start blaming bitcoin.

2. Does NOT have a Moderator. A request to appoint one is pending for long.

[September 18, 2018]

I am consistently reporting threads to clean up garbage from India section. But, lately I have discovered that some of my reports dated back September 18, 2018 is still hanging as Unhandled. I wish they're handled soonish.

p.s. There is a pending request to appoint an active mod for the India section - https://bitcointalk.org/index.php?topic=3125174.0.

Can anyone please confirm?

[Forum]

Forum: https://bitcointalk.org/index.php?board=89.0 - http://archive.is/RJPL4


Alt coin & ICO discussions are taking over the main board. Mods are not moving them to Alt Coins (India)...

1. Fake Indian Ico !!

2. Ripple : The next Bitcoin

3. List of Indian Ico's

4. When is Jio Coin Launching?

5. Indian ICO Listing website?

6. Ripple can become next Bitcoin?

7. What are the factors one should think before investing in a ico?

8. Daily Airdrops

9. Any Real ICO in India?


Referral spams are running on the main board for weeks...

1. Primedice #1 Bitcoin Gambling Website | 100% provably fair

2. Stake.com | Bitcoin Casino | Mines, Blackjack, Roulette, Baccarat + 8 games

3. Synereo AIRDROP:Guaranteed Profit$ | Listed On Big EXCHANGES/COINMARKETCAP

4. SHARD [SCRYPT] [POS/POW] High % ROI Staking with a Purpose


Due to the low quality posts on this sub, I had to stop directing people in India to check the same.

1. https://inc42.com/buzz/cryptocurrency-exchanges-database/

2. https://thenextweb.com/hardfork/2018/02/13/indias-cryptocurrency-fans-might-have-to-link-their-aadhaar-ids-with-their-wallets/

3. https://economictimes.indiatimes.com/markets/stocks/news/bitcoin-exchanges-plan-to-maintain-user-database/articleshow/62894886.cms

[April 1, 2016]

Looking for daily data from April 1, 2016 to March 31, 2017.