Dec 27, 2013 - ED raids a Bitcoin seller in Ahmedabad (buysellbitco.in)

[manekari]

http://www.dnaindia.com/india/report-first-time-in-the-country-ed-raids-a-bitcoin-seller-in-ahmedabad-1941187

[Benson Samuel]

Damn, even without knowing what it is, they jump.

[manekari]

ED estimated 20 to 30 crores transacted.

Looks like a trap.

[Benson Samuel]

ED estimated 20 to 30 crores transacted.

Looks like a trap.

From what I know, Mahin has been one of the strongest people in terms of maintaining records, etc..

[BTCIndia]

Damn, even without knowing what it is, they jump.

Correction: Damn, even without knowing what it is, they(Mr. Gupta) jump.

[BTCIndia]

ED estimated 20 to 30 crores transacted.

Looks like a trap.

From what I know, Mahin has been one of the strongest people in terms of maintaining records, etc..

I'm sure Mahin Gupta maintained record. What about record of further transaction done by those people who bought Bitcoin? 

[bitmit_samar20]

I dont think there will be any effect of this news to Bitcoin value... There are hundreds of people involved in ML and thousands of people do it (mostly for good cause) worldwide.... News will remain for 1 or 2 weeks and will be underground soon... Seems, builders and politicians money circulate in bitcoin from India....Even though RBI ban or stop bitcoin trading in India, there are many ways to trade or do business in it.... If RBI find any way, its good for system...

I heard both Nilam Doctor and Mahim gupta are being investigated by agencies....Lets see.

[escrow.ms]

ED estimated 20 to 30 crores transacted.

Looks like a trap.

From what I know, Mahin has been one of the strongest people in terms of maintaining records, etc..

Maintaining records is a good thing, but In future If government said bitcoin itself or buying/selling of bitcoin is completely illegal, those maintained records will just create more problems for him and others.

[Ashitank]

I think ED's main concern is money laundering A.K.A  hawala , RBI did not ban Bitcoin , IF exchanges follow AML type of verification then this should not be a problem in future.

[newIndia]

ED estimated 20 to 30 crores transacted.

Looks like a trap.

From what I know, Mahin has been one of the strongest people in terms of maintaining records, etc..

So how is Mahin at this moment ? Is he back home ? Any update ?