RATE Group | Unocoin founders arrest spooks cryptocurrency players, startups
46822
post-template-default,single,single-post,postid-46822,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Unocoin founders arrest spooks cryptocurrency players, startups

26 Oct Unocoin founders arrest spooks cryptocurrency players, startups

Posted at 05:29h in Cryptocurrency News by

[ad_1]

The recent arrests of Unocoin founders Sathvik Viswanath and Harish BV for setting up a bitcoin ATM or kiosk have triggered fear among cyrptocurrency players in the country.

These players have expressed concerns over the arrests as the machine, reported by the media to be a bitcoin ATM, was just meant for subscribers to deposit and withdraw cash to and from their Unocoin account.

In a bid to bypass Reserve Bank of India’s (RBI’s) April 6 diktat to banks on freezing the accounts of cryptocurrency exchanges, Unocoin had recently unveiled a bitcoin ATM in Bengaluru.

The ATM enabled KYC-verified customers to deposit and withdraw cash in legal tender to and from their respective Unocoin accounts.

However, it was taken down by Bengaluru’s Cyber Crime department for having been installed without the necessary permissions.

“The ATM kiosk installed by Unocoin in Bengaluru’s Kempfort Mall has not taken any permission from the state government and is dealing in…

[ad_2]

Source link

Tags:
, , , , , ,