move that makes registration of virtual currency exchanges a stringent affair, the Registrar of Companies (RoC) has stopped registering cryptocurrency exchanges under the Companies Act, 2013, according to a report.
The report suggests that the RoC, which works under the Ministry of Corporate Affairs, has in certain cases, asked for an undertaking from software development or information technology companies that it will not deal with cryptocurrencies.
"some one tried to register his company in December, but the RoC didn't accept his request. The company's name had the term 'bitcoin' and the RoC said it wouldn't support it," an executive with an upcoming cryptocurrency exchange told the newspaper.
source :http://www.moneycontrol.com/news/business/cryptocurrency/noose-on-cryptocurrency-exchanges-tightens-as-roc-stops-registration-2488799.html/amp
