“Several major Indian banks have suspended the accounts of top Bitcoin exchanges in India. State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank cited suspicious payments in their decisions. The move comes after tax authorities sent notices to cryptocurrency investors warning that they must pay capital gains on their income from the virtual currency.  For the few accounts still open, the banks have asked for more collateral, and have capped cash withdrawals.”

Read more: https://dowbit.com/indian-banks-freeze-major-cryptocurrency-exchange-accounts/

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