Things are not looking all that great for Btcxindia and Ethexindia. Both of these platforms will suspend cryptocurrency trading starting tomorrow. It is unclear how long this situation will last, although it may be for quite some time to come. Both of these trading platforms have become rather popular in India over the past few months. Btcxindia is one of the oldest Bitcoin exchanges in the country as of right now.
It seems the regulatory pressure in India is getting the best of these two platforms. This is rather worrisome, considering how the local government is actively working on cryptocurrency regulation. No details regarding this regulation have been made public at this point. It is possible India may curb cryptocurrency trading altogether, albeit that has not been officially confirmed.
For now, users are advised to withdraw their funds as soon as possible, Anyone keeping funds on either platform will be subject to annual wallet maintenance fees. INR and cryptocurrency deposits are halted already, with withdrawals remaining accessible for the remainder of today.
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