Bitcoin Shut Down its operation in India

Bitcoin Shut Down its operation in India. Bitcoin, a digital currency payment network across the world, and India’s largest BuySellBitCoin.in has shut down its operation in the county over the warning of the government. The reports has also claimed that the website has infringed the local banking rules and regulation by sending out money in across boarder.
The Central Bank of the country warns the Virtual currency users against security and financial risks associated with them. The reports mentioned that the authorities have raided the home of the man who supervised the largest of these exchanges. On Thursday,virtual  the Central Bank has issued a notice to claiming that the virtual currencies could be used for money laundering and funding anti-terrorism activities.

It is to mention that earlier this week the government of China has also launched a creak down against Bitcoin exchanges in the country. The government of United State has seized the $5 million from the bank accounts of Tokyo based Bitcoin money exchange. The US government claimed that they were doing exchanging money transmission business without properly registering with federal and state authorities. Since then, the company has had trouble moving money to its customers in the U.S.