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Bitcoin atm news in india

bitcoin atm news in india

Ghaziabad: No guards at most ATMs, and only a few are trained. Romanian citizen Siliviu Florin Spiridon 28 , the arrested kingpin of a skimming gang that defrauded Kolkata residents of over Rs 15 lakh, used to spend around Rs 1. Howrah gang uses gas cutter to loot ATM. This story is from October 24, For more than a year now, residents of Valparai taluk in the district have been demanding for more ATMs. Police requested public not to be lured by the prospect of making huge profits and invest money in cryptocurrencies. Jaipur rural police in a joint operation with Alwar police arrested a gang of 10 members who looted 14 ATMs in these areas.

Crypto exchanges are facing the music

More arrests are likely, according to the police. At of cryptocurrencies has been a major problem for countries that want to make use of their unique features. Countries like China and India have a hawkish stance on digital coins and have tried to curb their local crypto markets. Indian Bitcoin exchange Zebpay, which stopped its activity last month because of restrictive policies of the Central Bank of India, registered an office in Malta. The new exchange will offer services to residents of 20 EU countries. Indian regulators’ clampdown on crypto firms is forcing exchange Unocoin to experiment with ATMs and stablecoins to continue receiving fiat deposits. Fifty traders who use Indian crypto exchange Instashift have shared their thoughts on the current crypto environment in India.

RBI tangle

bitcoin atm news in india
The kiosk facilitated cryptocurrency deals. The crime branch seized a teller machine, 2 laptops, a mobile, 3 credit cards, 5 debit cards, a passport, 5 seals of Unocoin company, a cryptocurrency device and Rs 1. Cops suspect they had used gas cutters to break open the machine. The ATM does not have a security guard. The duped customers, irrespective of public sector or private sector banks, will get back the money they lost through fraudulent transactions. The ATM skimming fraud uncovered on Monday was just the tip of the iceberg, it seems. A day later, all basic parameters related to the case shot up: the number of complaints, the number of affected ATMs, and even the geographical spread of the victims.

India’s first Bitcoin ATM seized Police Arrest Unocoin Co-Founder — English

A hostile regulatory environment

RBI tangle In a blog posted in JanuaryUnocoin had explained that, according to RBI norms, non-banking entities, including cryptocurrency exchanges, are forbidden from setting up or operating ATMs. Due to this, our kiosk is not operational. The process lndia withdrawals is similar. An ATM containing Rs 25 lakh was uprooted and taken away by five unidentified persons in the wee hours of Friday from Dhawa village on Jodhpur-Barmer highway. Recommended By Colombia. In India, Unocoin is targeting malls and other locations that have higher footfalls to set up more ATMs.

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