ED officials raided two bitcoin trading firm in Ahmedabad

“Days after the RBI issued a cautionary note regarding the use of popular virtual currency Bitcoin, Enforcement Directorate officials here raided two companies running Bitcoin transactions in India.  ED officials told ET that on Thursday raids were conducted on the offices of rBitco.in and buysellbitco.in. This is India’s first bitcoin raid and second globally after FBI conducted the raid in October, they said.  As per the sources, the owners of the both the bitcoin trading firm would be booked under FEMA Act initially. However, after detail investigation of the data collected, if any havala transaction or criminal nature transaction is detected then they would be booked under the appropriate Act.”

http://articles.economictimes.indiatimes.com/2013-12-27/news/45626789_1_one-bitcoin-bitcoin-transactions-peer-to-peer-payment-network

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