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Author Topic: Online investment website that only trade in dollar  (Read 326 times)

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Offline Arnav95

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Online investment website that only trade in dollar
« on: March 20, 2016, 09:13:01 PM »
I am launching an online investment website where I provide my investors with 3% ROI weekly. Now, I am an Indian resident and all the transactions will be done through e-wallets such as perfect money, bitcoin, payeer the base currency will be dollar and would never be converted to INR. I want to know what are the Indian laws for such website? is it legal to have such a website?
Please reply ASAP

Offline rajgopal sripathi

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Re: Online investment website that only trade in dollar
« Reply #1 on: March 20, 2016, 09:19:00 PM »
Hi
IT IS NOT LEGAL TO TRADE IN FOREIGN CURRENCY WITHOUT RBI Permission.
Moreso you cannot trade in digital assets such as BITCOIN as these are not approved by government.
Rajgopal Sripathi
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Offline Arnav95

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Re: Online investment website that only trade in dollar
« Reply #2 on: March 20, 2016, 09:32:27 PM »
Hi
IT IS NOT LEGAL TO TRADE IN FOREIGN CURRENCY WITHOUT RBI Permission.
Moreso you cannot trade in digital assets such as BITCOIN as these are not approved by government.
Let's say I started the website and I am openly promoting my website by my Facebook Twitter Instagram Snapchat and advertisements then what are the consequences?

 

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