BANKS IN INDIA FROZE RESURCES THE LARGEST STOCK EXCHANGE CRYPTOCURRENCY

Several large Indian banks have suspended bills from Bitcoin's largest stock exchanges in the country. The state bank of India, Axis Bank, HDFC Bank and Yes Bank exchanged suspicious payments as the main reason for their decisions. This happened after the tax authorities sent warnings to cryptocurrency investors saying that they must pay tax on income derived from cryptocurrencies. With regard to accounts that are still open, banks have requested additional collateral and limited the possibility of cash withdrawal.