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Tension in India Boils Up: Second Unocoin Co-Founder Arrested

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  • Tension in India Boils Up: Second Unocoin Co-Founder Arrested

Tension in India Boils Up: Second Unocoin Co-Founder Arrested

BTC Casino / 26th October 2018

Another co-founder of India’s oldest cryptocurrency exchange Unocoin was reportedly arrested today. The move followed yesterday’s action when the company saw its first Bitcoin ATM being seized by authorities and other co-founder arrested.

Tether Announces Relationship With Deltec Bank in the Bahamas
Friday November 02, 2018

On November 1st Tether said they have established a banking relationship with the Bahamas-based Deltec Bank & Trust Limited. Tether Limited made a few notable announcements on Thursday, November 1st. Early […]

The post Tether Announces Relationship With Deltec Bank in the Bahamas appeared first on BTC Casino Gambling.

Saga Continues
Live Bitcoin News reported yesterday, October 24, that India’s very first Bitcoin ATM set up by the country’s oldest cryptocurrency exchange Unocoin has been seized by the Cyber Crime Department of the Central Crime Branch (CCB). The authorities also arrested the company’s co-founder Harish BN.
The merit for the CCB’s actions was that the ATM kiosk was installed in the city of Bengaluru without the permission of the state government.
At the time, the other co-founder of the company, Sathvik Vishwanath, noted:
We got a lot of bad press after the finance minister announced a ban in February 2018. The minister’s statement was clear: Cryptocurrencies are not legal tender in India. He did not say “illegal tender”. There’s a huge difference. It means you bear the risk of your investment and there’s no regulation for the industry.

Max Keiser Interview: Buy Bitcoin, ‘Leave Alts to Dickheads Like Jamie Dimon’
Wednesday December 12, 2018

Max Keiser once again shared his thoughts with Bitcoinist on the latest happenings in France, how Russia may use Bitcoin for its strategic reserves, and why Bitcoin is king while […]

The post Max Keiser Interview: Buy Bitcoin, ‘Leave Alts to Dickheads Like Jamie Dimon’ appeared first on BTC Casino Gambling.

From Bad to Worse
Today, outlet News 18 reports that Viswanath has also been arrested on charges of collusion. Citing a police officer, the media outlines:
The accused in order to earn money had joined hands with the other accused and set up these kiosks illegally, thereby duping the public.
The legality of Bitcoin ATMs in the country is yet to be determined. As Vishwanath had previously said, the minister’s statement that cryptocurrencies are not considered to be “legal tender” in the country doesn’t on its own entail that they are illegal.
What do you think of India’s move to arrest co-founders of Unocoin and to seize their Bitcoin ATM? Don’t hesitate to let us know in the comments below!

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Images courtesy of ShutterStock
The post Tension in India Boils Up: Second Unocoin Co-Founder Arrested appeared first on Live Bitcoin News.

Vitalik Buterin is Not Stepping Away from Ethereum
Friday November 02, 2018

An article headline in MIT Technology Review heralds Vitalik Buterin saying Ethereum can’t succeed unless he takes a step back. Tone Vays almost wet his pants with glee at Vitalik’s imminent […]

The post Vitalik Buterin is Not Stepping Away from Ethereum appeared first on BTC Casino Gambling.

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