Recently, The Economic Times reported that top banks have suspended some accounts of major bitcoin exchanges in India. Other bitcoin exchanges too have got letters of closure from some banks. According to Khurana, banks in other countries too are closing accounts of bitcoin exchanges. When banks closed down the accounts of cryptocurrency exchanges, it had an impact on the transactions, which slowed down. Bitcoin exchanges don’t want to go to smaller banks where the bank becomes a risk factor,” said Khurana.

Source: Mint January 31, 2018 12:11 UTC