Bitcoin exchanges shut down after a warning


•Speak little, do much•
Bitcoin exchanges shut down after a warning from Reserve Bank of India

The Reserve Bank of India which is well known as RBI has recently released a warning stating that the use of of the cryptocurrency could violate money laundering and financial terrorism laws. And as a result of that many Bitcoin exchanges in India have now suspended their services.

Bitcoin is currently among one of the world’s most expensive currency. For those who are unaware, Bitcoin is a virtual currency which is usually generated through a complex computer software and it can only be done on powerful servers.

Many websites offering Bitcoin Services in India have shut down and according to the recent reports from DNAIndia, Mahim Gupta who is currently the owner of, could be arrested if the Indian Police “are able to establish money laundering” charges against him.