«This RBI's decision might encourage hawala trading or illegal remittances and keep bitcoin / crypto trading out of the purview of income tax authorities which was difficult to do earlier — Exchanges asks for proper KYC for any customer to buy / sell crypto from their platform, now people will find alternative ways to do that — Some exchanges are even thinking to move out of the country (many have already planned),» he adds. (cryptotimes.news)
According to recent reports, Intelligence Agencies in India have just issued an official report stating that virtual currencies such as Bitcoin can be used for the funding of illegal activities, by people who also move their funds through hawala transactions. (coinshost.com)
To design Abra we turned to the traditional Hawala model. (abra.com)