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Why India’s cryptocurrency exchanges may move to Singapore, Switzerland, or Malta

Why India’s cryptocurrency exchanges may move to Singapore, Switzerland, or Malta
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Earlier this month, the Reserve Bank of India (RBI) issued a directive that, by July 06, lenders must close the bank accounts of firms dealing in cryptocurrencies. Banks are also forbidden from offering loans or other services post-deadline. Essentially, this marks the end of the road for the digital currency-related operations in India.

Read the full story at https://qz.com/1253245/with-the-rbi-cracking-down-indias-cryptocurrency-exchanges-look-to-singapore-switzerland-and-malta/

SOURCE: Quartz

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