The two legal risks RBI brings up in the notice is anti-money laundering and funding of terrorists.

Anti-money laundering means you are trying to move money without letting your identity revealed and avoiding banking channels.

Funding of terrorists is about sending money to terrorists through an unrecognised channel without revealing your identity. For the same reason, we collect the KYC documents from the customers whoever registers with us.

These legal issues and the way we make sure you are safe as long as you do not do any illegal activities is very similar to what the corporate banks follow in India.

For you to sell bitcoins, we first make sure we have your KYC documents and then we will get your account verified. Then you will have an option to add a bank account details where you would enter your account name, number, and IFSC code.

We avoid this happening by making sure all of your buying and selling of bitcoins happens through banking channels.

In case law mandates us to share any of that information with the government or legal entity, we will be obliged to do it.

However, we do not do this unless we have ordered from a court, where the court would order the same if they have a suspicion or charge against your financial activities and would like to investigate further.

So there are no unknown entities involved and everything is trackable by the government.