RBI’s Circular on Bitcoin causes Exchanges to suspend operations.

India was promised to be the next giant in Bitcoins (after China). Sadly, that is not the case.

A Christmas Eve present (read: circular) from the financial regulator (Reserve Bank of India) is creating confusion amongst the existing players and has resulted that Bitcoin buying/selling from these exchanges has been suspended.

The circular in its entirety can be read here. The circular can be viewed on RBI’s website here. Exchanges like BuySell Bitcoin in India are showing the following now on their homepage.

 

Reddit is also seeing a trigger on this, with the following post regarding the Buying/Selling of Bitcoins in India

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