suspending or banning anything without any protest by people is a bad thing .
if traders have no issue and everyone pay their tax then why such actions ??
indian govt should regulate it , but must not ban it .
bitcoin is not a organisation running by any person , it is decentralized network .
many people in india do scam with others but i can see they roam happily in foreign .
but someone do trading in crypto , they have issue with that ..
Topic: Bank account suspended for majority of Indian Bitcoin Exchanges - page 2. (Read 434 times)
January 21, 2018, 08:53:16 PM
January 21, 2018, 07:53:25 PM
im just corious what if all people in the world encourage to use bitcoin..what will be the effect?
January 21, 2018, 01:52:17 AM
Banks suspending accounts of private limited companies appear to be serious issue. May I expect Benson, Sathvik & Mahin to comment on this regarding their respective companies?
Few banks have started to take action and this is not a good sign as far as cypto market is concerned in the country. Even if you see govt stand is now getting more clearer than before. All this steps is curbing the use of btc and finally after the report it will be clear that it might not be allowed in the country and close down all the exchanges by giving them notices for the closure.
January 20, 2018, 11:18:31 PM
Banks suspending accounts of private limited companies appear to be serious issue. May I expect Benson, Sathvik & Mahin to comment on this regarding their respective companies?
Yes that surely will help a little. 
January 20, 2018, 03:25:06 PM
Banks suspending accounts of private limited companies appear to be serious issue. May I expect Benson, Sathvik & Mahin to comment on this regarding their respective companies?
January 20, 2018, 10:11:04 AM
yes its true news, people who not paid full tax to the government of india , they are taking strict action now. Because they transfer heavy amount daily
http://www.moneycontrol.com/news/business/cryptocurrency/top-banks-including-sbi-axis-icici-suspend-some-acs-of-major-bitcoin-exchanges-in-india-report-2487505.html
The total revenue of top ten exchanges in India could well be worth Rs 40,000 crore and they operate at margins greater than 20 percent, the ET reported citing sources.
This is the reason behind this. Why they charge 20% extra from normal rates?
another reason they operate multiple accounts to transfer the funds
The tax department also recently sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than USD 3.5 billion (RS 2,234 crore) worth of transactions have been conducted over a 17-month period.
Its normal if you dont pay tax they will take some action. Same thing happens in south korea
http://www.moneycontrol.com/news/business/cryptocurrency/top-banks-including-sbi-axis-icici-suspend-some-acs-of-major-bitcoin-exchanges-in-india-report-2487505.html
The total revenue of top ten exchanges in India could well be worth Rs 40,000 crore and they operate at margins greater than 20 percent, the ET reported citing sources.
This is the reason behind this. Why they charge 20% extra from normal rates?
another reason they operate multiple accounts to transfer the funds
The tax department also recently sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than USD 3.5 billion (RS 2,234 crore) worth of transactions have been conducted over a 17-month period.
Its normal if you dont pay tax they will take some action. Same thing happens in south korea
January 20, 2018, 08:37:43 AM
Source: https://economictimes.indiatimes.com/industry/banking/finance/banking/top-banks-suspend-accounts-of-major-bitcoin-exchanges-in-india/articleshow/62576882.cms
If this is true, Indian exchanges will soon turn into Mt. Gox. Get your funds out, while u still can.
Quote
The banks are scrutinising current accounts held by top Bitcoin exchanges, a second person said. Action has been initiated against the top 10 Bitcoin exchanges including Zebpay, Unocoin, CoinSecure and BtcxIndia, said four people aware of the matter.
If this is true, Indian exchanges will soon turn into Mt. Gox. Get your funds out, while u still can.
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