One approach that is open to them is to regulate exchanges in India and track the addresses from there on the Blockchain
If stuff has been moved on the Blockchain in a FY, you may have to explain the movement to IT
But yes not easy to regulate
Topic: Capital Control - page 2. (Read 2296 times)
My worry is that they will look suspiciously at places where BTC is traded for INR - the exchanges.
This could be their view
Sellers of BTC - Possible money launders
Buyers of BTC - Possible hawala operators
Operators of Exchanges - Possible facilitators of illegal transactions
This could be their view
Sellers of BTC - Possible money launders
Buyers of BTC - Possible hawala operators
Operators of Exchanges - Possible facilitators of illegal transactions
lol....n thats what they are afraid of 
The only tap comes in my mind is that world regulatory authorities keep a close tab on the wallet companies.
The only tap comes in my mind is that world regulatory authorities keep a close tab on the wallet companies.
Do u mean, IMF, World Bank are going to regulate blockchain.info and coinbase.com ?
lol....n thats what they are afraid of
The only tap comes in my mind is that world regulatory authorities keep a close tab on the wallet companies.
The only tap comes in my mind is that world regulatory authorities keep a close tab on the wallet companies.
How would capital controls work in the bitcoin era?
Right now, we have restrictions on how much FX an individual can transfer out of India. Since banks and authorized forex dealers are about the only way a person can procure FX, the government is able to monitor this.
Once bitcoins are easily available, what prevents a person from buying BTC and sending them across to another person outside India. Would you need an established and trusted 'hawala' operator to transfer funds outside India?
Right now, we have restrictions on how much FX an individual can transfer out of India. Since banks and authorized forex dealers are about the only way a person can procure FX, the government is able to monitor this.
Once bitcoins are easily available, what prevents a person from buying BTC and sending them across to another person outside India. Would you need an established and trusted 'hawala' operator to transfer funds outside India?
To put it mildly Bitcoin is a Internet currency, no borders no central control. So no Capital control.
Countries will have to adapt to the change in this environment.
They will no longer be in control.
How would capital controls work in the bitcoin era?
Right now, we have restrictions on how much FX an individual can transfer out of India. Since banks and authorized forex dealers are about the only way a person can procure FX, the government is able to monitor this.
Once bitcoins are easily available, what prevents a person from buying BTC and sending them across to another person outside India. Would you need an established and trusted 'hawala' operator to transfer funds outside India?
Right now, we have restrictions on how much FX an individual can transfer out of India. Since banks and authorized forex dealers are about the only way a person can procure FX, the government is able to monitor this.
Once bitcoins are easily available, what prevents a person from buying BTC and sending them across to another person outside India. Would you need an established and trusted 'hawala' operator to transfer funds outside India?
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