Covered by Moneycontrol as well.
http://www.moneycontrol.com/news/business/indian-bitcoin-players-form-association-seek-regulations_8450261.html
BVAI confirms that all the members of the association follow strong KYC measures before getting users on board. None of the exchange and trading platforms accept cash and have implemented strict compliance policies. All members are ready to share information about their users and their trades with government authorities on need basis.
Isn't that a little strange, given that exchanges in other countries have gone to court to protect the privacy of their users?
http://www.moneycontrol.com/news/business/indian-bitcoin-players-form-association-seek-regulations_8450261.html
BVAI confirms that all the members of the association follow strong KYC measures before getting users on board. None of the exchange and trading platforms accept cash and have implemented strict compliance policies. All members are ready to share information about their users and their trades with government authorities on need basis.
Isn't that a little strange, given that exchanges in other countries have gone to court to protect the privacy of their users?
What you are saying is true, how can then users can give their personal documents when this exchanges are not giving any surety of safety of their documents as they are clearly giving hint of that they will share information of users and their trades to the government authorities, that means any one if come and claim of being government authority and ask the details about the users of their exchange , then they will share it. It is clearly breach of agreement of exchanges between users and exchange of not disclosing the details of the users without getting confirmation from the users.
