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SBI, four more banks suspend accounts of major Bitcoin exchanges in India

According to a news report, the exchanges include Zebpay, Unocoin, CoinSecure and BtcxIndia

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A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris (Photo: Reuters)

BS Web Team New Delhi
In India, where Bitcoin is largely unregulated and has not been recognised as a legal tender yet, the Narendra Modi government has some bad news for Indians who are dreaming of making a quick buck through the crypto currency.
 
In the latest development, the top banks of the country including State Bank of India (SBI), HDFC Bank, Axis Bank, ICICI Bank and YES Bank have suspended some accounts of major Bitcoin exchanges in India on suspicion of dubious transactions.
 
The legal action has been initiated against top ten cryptocurrency exchanges in the country, including - Zebpay, Unocoin, CoinSecure and BtcxIndia,