Numerous Bitcoin exchanges in India have had to suspend their services after authorities began cracking down on the virtual currency. India’s recent crackdown is due to concerns that the virtual currency could could violate money laundering and financial terrorism laws.
A number of Bitcoin exchanges in India have suspended their services days after the Reserve Bank of India (RBI) warned that use of the cryptocurrency could violate money laundering and financial terrorism laws. Among the services that are pausing, INRBTC.com says “the only option left now is suspend the services until further arrangements can be made,” while Buysellbitco.in will remain offline until “we can outline a clearer framework with which to work.”