Bad news for Bitcoin in India?Bitcoin exchanges bank accounts suspended

[CryptoFanholic]

How do you see top banks suspending accounts of major Bitcoin exchanges in India and a day before this income tax notices were sent to many people who are holding bitcoins.

news: 1) https://scroll.in/latest/865708/income-tax-department-sends-notices-to-thousands-of-indians-trading-cryptocurrency
2) https://economictimes.indiatimes.com/industry/banking/finance/banking/top-banks-suspend-accounts-of-major-bitcoin-exchanges-in-india/articleshow/62576882.cms

Do you think India will ban or regulate bitcoin in near future?

[First77]

In India, there is WAR going on against black money and tax evasion.

Prime minister "Narendra Modi" went to the extent of banning/removing all the old currency notes in India in November 2016, just to kill black money and tax evasion.

[hitrawal91]

I think that IT department already send notices even a few months back and I think they are targeting HNI and trader who is trading with some big capital and I am sure that they are doing this thing just for security purposes and to prevent tax evasions and foreign direct invasions similar to forex margin trading so that Indian currency rupees do not get decrease their value and i think that slowly they are taking steps to regulate the bitcoin and other cryptocurrency in India, but it will take some time and efforts to reach there.