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Two Indian Crypto Exchanges Have Closed Down, Citing Regulatory Fears

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Mon, 5/03/2018 - 16:35
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Two Indian Crypto Exchanges Have Closed Down, Citing Regulatory Fears
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Two small Indian cryptocurrency exchanges closed their doors today due to regulatory fears, according to CNN Money. The exchanges, BTCXIndia and ETHEXIndia, have a minuscule daily trading volume of about $45,000 per day combined. While these closures are certainly minor, they could be a harbinger of worse to come. Both exchanges are closing because they expect a crackdown from Indian regulators who have been notoriously hostile to digital currencies. India’s finance ministry has called cryptocurrency a “Ponzi scheme” and claimed that crypto’s only use is to fund illegal activities.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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