It should be noted that regulators around the world are carefully studying cryptocurrency-related business amid growing concerns about money laundering and tax evasion.
Last week, India's Finance Minister, Arun Jaitley, said that the government is not going to recognize cryptocurrencies as a legitimate means of payment. There were also reports that several Indian banks have frozen the accounts of crypto-currency exchanges in the country, and the Registrar of companies (ROC) has stopped the registration of companies, which had planned to launch a similar platform.