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This is a list of for-profit companies with notable commercial activities related to bitcoin.Common services are wallet providers, bitcoin exchanges, payment service providers[1] and venture capital.Other services include mining pools, cloud mining, peer-to-peer lending, exchange-traded funds, over-the-counter trading, gambling, micropayments, affiliates and prediction markets.A sign advertising bitcoin payments in a cafe in The Netherlands in April 2013 A Bitcoin ATM in the Czech Republic in September 2014 A FPGA based bitcoin mining board from 2013 Detail of TREZOR hardware wallet showing transaction details on its display 2014 A Bitcoin Point of Sale Terminal showing transaction has been paid 2016 ^ ^ Harry Büsser, (Jan 01, 2016) "Wie Blockchains die Finanzwelt umkrempeln" BILANZ ^ ^ /sites/jonathanchester/2015/12/03/starting-bitwage-an-international-payroll-company-that-uses-bitcoin/ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^

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bitcoin news rbiLaws about Bitcoin are in a gray area today across the world.
bitcoin island llcI studied documents from the Reserve Bank of India’s public repository surrounding Virtual currencies and prepaid solutions.
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I happened to study two documents about Prepaid Payment and Foreign Exchange Management Rules, 2000.Why research Prepaid Payment rules?A person may come across the need to purchase them through Fiat Currencies (INR, USD, GBP, etc).Purchasing any e-currency and loading to an eWallet is regulated by the RBI.Although Bitcoin is in no way related to this, I wanted to see how close I could get to any laws that could present a roadblock.
papa johns bitcoinIs Bitcoin Regulated in India?
ethereal blade lionThe RBI regulation on Prepaid Payment Instruments in India defines a lot of areas.
ethereum daily transactionsAfter understanding the documents of RBI’s guidelines and Rules, this is where I could find the only roadblock based on regulation.
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3.2 Only banks which have been permitted to provide Mobile Banking Transactions by the Reserve Bank of India shall be permitted to launch mobile based prepaid payment instruments (mobile wallets & mobile accounts).” In order to enter into the market; fiat is needed to purchase Bitcoin.Fiat will fade away as more people adopt Bitcoin.Until that frictionless free flow between consumers and merchants is made possible, this is a problem area for Bitcoins entry into India.It can be overcome through: If we keep fiat out of the system, then Bitcoin is unregulated in India.I spent some time on the Foreign Exchange Management Act, but it is entirely out of the scope of Bitcoin.As it is a decentralized currency, it can be considered to be a domestic currency since it is being mined in India.This leaves it out of the scope of Foreign Exchange.Even if, IP’s can be tracked when Bitcoin is used for Foreign Exchange, they can be easily anonymized through the Tor Wallet.Since it is a true P2P (Peer to Peer/ Person to Person) currency, it is impossible to regulate in a population using Bitcoin as a token of value to trade.

The logistics to monitor a mass population is not feasable.Please do read the Draft Guidelines for issuance and operation of Prepaid Payment Instruments in India and Foreign Exchange Management (Current Account Transactions) Rules, 2000.They will help to understand more about the Banking Regulations in India and help solve some problems.India’s closed currency banking system is rival to none.The banks have maintained a lot of public faith in urban areas and have reached a lot of people in this 1.5B population landscape.India has an unbanked population of 41% according to RBI statistics I would like to reach out to the world of regulators and lawmakers to release a statement on Bitcoin.Can the Reserve Bank of India issue a statement on Bitcoin?Please forward this till someone takes notice and moves Bitcoin along in a positive path.Draft Guidelines for issuance and operation of Prepaid Payment Instruments in India Foreign Exchange Management (Current Account Transactions) Rules, 2000.