Top lenders including State Bank of India, Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have suspended some accounts of major Bitcoin exchanges in India, suspecting dubious transactions, three people aware of the development said.
The banks have also sought additional collateral from the promoters of these exchanges on their borrowings and have capped cash withdrawals from the few accounts that are still operational.
"Since last month, banks have been asking for additional collateral with 1:1ratio," a person with knowledge of the matter said.
The banks are scrutinising current accounts held by top Bitcoin exchanges, a second person said. Action has been initiated against the top 10 Bitcoin exchanges including Zebpay, Unocoin, CoinSecure and BtcxIndia, said four people aware of the matter.
Since last month, banks have been asking for additional collateral with 1:1ratio," a person with knowledge of the matter said.
The banks are scrutinising current accounts held by top Bitcoin exchanges, a second person said. Action has been initiated against the top 10 Bitcoin exchanges including Zebpay, Unocoin, CoinSecure and BtcxIndia, said four people aware of the matter
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