Indian Bitcoin Exchange Bank Account Unblocked, KYC Now Obligatory
Police have unfrozen a bank account of Indian Bitcoin exchange Zebpay as part of their ongoing fraud investigation. After criminals stole funds worth around $1 mln from the domestic bank- Bank of Maharashtra last week, it was found that some had made their way to Zebpay for trading into Bitcoin.“Users can only do transactions on Zebpay after submitting KYC documents. All purchase and sale happen (sic) strictly via bank accounts only and no cash,” a lawyer representing the exchange said quoted by Pune Mirror.“Hence, all transactions are recorded and easily identifiable. All these users were easily identified and we are helping the local agency to recover the funds.”https://cointelegraph.com/news/indian-bitcoin-exchange-bank-account-unblocked-kyc-now-obligatory
i think this is only case which may deal well by law.
This post has been ranked within the top 80 most undervalued posts in the second half of May 01. We estimate that this post is undervalued by $3.56 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: May 01 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
As an Indian , I get the reason behind the government opposing bitcoin. We are battling against black money and are encouraging digital payments because these transactions can be tracked easily and are valid. With bitcoin, it encourages anonymous transactions .