As per a leading business daily, two of the crypto exchanges based out of India providing platform for trading in cryptos will stop their operations from March 5 as government measures discourage crypto. The two exchanges BTCXIndia and ETHEXIndia are informing their customers via e-mail.
The two of the platform's websites carry the message that any deposits taken after January shall be reverted back to the customer's account automatically.
The customers of BTCXIndia are being informed that they can withdraw their funds in different cryptos including ripple, ether or bitcoin or rupee before the wallet begins charging annual wallet maintenance fee.
BTCXIndia and ETEXIndia came into presence in 2014 and 2016 respectively.
The decision on bringing a halt to trading in these cryptos altogether comes in the wake of Jaitley's Budget speech as its use in illegitimate activities.