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RE: BTC hits $1,000 in India. How is this possible?

in #asksteem8 years ago (edited)

India has capital controls. You can send money to India freely, but you are limited as to how much money you can take out of India.

Also, they reckon that half of all money in circulation is black money, so sending it via official channels will get get you caught and fined. If taxes + fines are greater than the hawala fee, then it's cheaper to go hawala.