But we need to ensure clean money is being used to buy VC,” the source added. The concern stems from Indian authorities’ apprehension that black money is being used to trade in cryptocurrencies. “The government is examining the use of black money to buy VC. We also need regulations for the exchanges where you can buy or sell cryptocurrency,” said Chandan Choudhury, a Bengaluru-based cryptocurrency expert. “There have been tax surveys at our exchange but there is no rule in India to stop cryptocurrency trade.

Source: Hindustan Times January 13, 2018 16:52 UTC