Comment by embedding-shape

9 days ago

Back in 2024, FLOSS/fund was described like this on HN:

> To apply, the project must place a funding.json in their public code repository or at a well-known uri location on their domain [...] That's already 10x more simpler than the 20 page document some of these other orgs have you fill. - https://news.ycombinator.com/item?id=41857032

But the author of the issue for Pocketbase writes:

> due to some unforeseen regulatory constraints their partnership with GitHub didn't seem to work out. Instead they want to issue a wire transfer from India requiring several cross-jurisdictional paperwork but I don't feel comfortable doing that

It's a shame that it didn't seem like they could work out how to keep it as simple, I wonder if basing it in a different country could have made a difference.

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embedding-shape

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sreekanth850  9 days ago

India have a strict process for sending and receiving money from outside as investment. Its mainly to avoid black money i guess.

  • nickff  8 days ago

    Many countries have similar controls; they're often represented as being anti-money-laundering, and anti-terrorism, but they are also used to control capital outflows, and improve tax compliance. I have never seen any evidence that this sort of control actually works to prevent money laundering or terrorist financing, but it does seem to help governments reduce monetary outflows and audit for tax compliance (when they bother to actually read what they receive).

  • Nexxxeh  8 days ago

    Given the impact of international terrorism and crime on India, minimising illicit money flow in and out of the country seems an inherently sensible precaution.