The survey, under section 133A of the Income Tax Act, is being conducted for "gathering evidence for establishing the identity of investors and traders, transaction undertaken by them, identity of counterparties, related bank accounts used, among others", they said.
It'll be interesting to see how India navigates this: as one of the largest developing and fast-growing economies in the world, other countries will likely look to it to learn how they should regulate, and maybe even taxcryptocurrency transactions within their borders.
The survey teams, sources said, were armed with various financial data and inputs about the working of these exchanges and this is the first big action against them in the country.
Bitcoin, though illegal in India, has jumped about 16-fold this year as investors continue to flock to this cryptocurrency as a safe investment option.
The income tax officials have reportedly sought information on the records maintained by the exchanges and earlier reports suggested that some tax evaders may be parking illicit money in Bitcoin.
He further said that the creation of virtual currencies like Bitcoins as a medium of payments is not authorised by any central bank or monetary authority. "However, the operations are still on and final findings will emerge later".
The RBI had previously said those trading in virtual currencies were doing so at their own risk, given that the central bank had not given a licence or authorisation for any company to deal in such cryptocurrencies.
It's a finite virtual commodity with only 21 million Bitcoins existing, of which around 17 million have already been mined. Bitcoin hit another all-time peak on Tuesday, two days after the launch of the first ever bitcoin futures on a USA exchange as investors grew optimistic that the $20,000-mark is within reach.
"The government's position is clear, we don't recognize this as legal currency as of now", he said at the time.
Crypto-currency Bitcoin is in news for the past one week as it hit new highs nearly every day.
Kaylene Bowen-Wright is charged with injury to a child with serious bodily harm, according to the Dallas County Sheriff's Office. Police say Christopher has suffered three life-threatening blood infections due to Bowen's actions over the years.
Stefani recently appeared on Williams Sonoma's Facebook live video with renowned chef Giada De Laurentiis . According to the No Doubt singer, she and Shelton will be spending Christmas together with her kids.
The FOMC's median estimates for core PCE inflation in 2018 and 2019 could be left unchanged, at 1.9% and 2.0%, respectively. We expect the FOMC's median projection for unemployment at the end of 2018 to be lowered slightly to 4.0% from 4.1%.
Institutional investors have recently bought and sold shares of the business. 108 funds opened positions while 483 raised stakes. Mcdaniel Terry & Co decreased its stake in Cvs Health (CVS) by 36.48% based on its latest 2017Q2 regulatory filing with the SEC.
There's a high level of respect for his position and what he wants from us. "Three-point, four-point plays. I'm feathery right here as a Pacer. "The Pacers fans outweigh the Paul George fans", George said.
One thing which strikes me is we're the seventh strongest running team in last 30 minutes - that suggests to me it's not fitness. We were ready to work hard for this one moment, but it didn't happen so that's what we now have to accept.
US West Texas Intermediate (WTI) crude futures were at $56.77 a barrel at 3.44am GMT, up 17c, or 0.3%, from their last settlement. The halt to a network of vital North Sea crude pipelines means the oversupply may be about to shrink quicker still.
World Bank to stop funding oil and gas projects
They've still opened the door for "exceptional circumstances" where this would be "a clear benefit in terms of energy access". The bank also announced it was "On track to meet its target of 28 percent of its lending going to climate action by 2020".
Jio and Airtel effect
Since it's a limited period offer, interested customers need to go to the MyVodafone app and opt for Vodafone Rs 348 plan . Overall, under the Rs 348 plan , Vodafone is offering a total of 56GB of data for the validity period of 28 days.
BP given thumbs down on Woolies petrol buyout
Today's decision appears to be a win for both consumers and Caltex which supplies numerous Woolworths service stations. Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell was quick to welcome the decision.
The Rock Receives Star on Hollywood Walk of Fame
He became a professional wrestler in 1996, following his father, Rocky Johnson, and grandfather, High Chief Peter Maivia. He thanked his friends, family and fans, for whom he said he was "grateful to the core of his bones".
Trailer released for 'The 15:17 to Paris'
Audiences can make up their own minds about the wisdom of Eastwood's decision when The 15:17 to Paris is released on February 9. Bruce Berman executive produces, and Eastwood, Tim Moore, Kristina Rivera and Jessica Meier produce.
Microsoft updates Bing search to highlight reputable results
Bing will be the place to go to search for Reddit AMAs, Q&As with celebrities and every day heroes hosted by the Reddit community. Additionally, Bing and Reddit have teamed up to bring the information contained in Reddit threads to Bing's search page.