Quote from: 1NV3ST0NM3 on September 21, 2017, 07:58:31 PM

Quote from: bitdragon84 on September 21, 2017, 05:22:03 PM

Hi,

I am a newbie BTC investor. I am aware of the technology, the laws or lack thereof (sources being Nishith Desai and Naavi.org).

I read on this forum that government authorities have requested user data and profiles from Indian exchanges like Zebpay, Unocoin, Coinsecure since 2013 for those who made $2000 or above in transactions.

If this is true, can any representatives of Zebpay, Unocoin, Coinsecure please clarify the below questions on the nature of the request.

- What qualifies as a "transaction" and how is the limit calculated?
- What is the exact transaction window/timeframe of the request?

I understand its under terms of use and perfectly reasonable request but users should know more about the nature of the request.

Regards,
B.

Yes you heard it right. But, this happened around an year ago when government asked them that what tax proceedings are they carrying on before trading off bitcoins. After which unocoin remained closed for a while. After this all the exchanges came up with KYC procedures and yes your each transaction is traced through your PAN if you trade on indian exchanges.

Thanks. I believe this is a fresh request for user information.

The source is here - it is as of July 2017:

https://bitcointalk.org/index.php?topic=213792.140

Can representatives of exchanges please confirm or deny this rumor and elaborate on the transaction threshold, transaction window and nature of request?