With the Enforcement Directorate and the I-T Department turning their attention to digital currencies such as Bitcoin, the virtual currency community has taken the first step towards forming a trade and lobbying association that will attempt to be the “voice of Bitcoin in India”.

Called the Bitcoin Alliance India (BAI), which takes after the Bitcoin Alliance of Canada, the association currently accepts donations — which will be used towards the initiatives of BAI.

The organisation, which will soon outline its goals, has started signing individual and corporate members. The membership fee ranges between .002 BTC and .005 BTC. Its members currently include Na Vijay Shankar, a cyber law expert.