Indian cryptocurrency exchange Coindelta shuts down operations

The lack of regulatory clarity on cryptocurrencies and the ban on cryptocurrency transactions by India’s Reserve Bank of India led to one of the country’s most popular exchanges to shut down. Coindelta is shutting down operations on 30 March at 2 pm IST. The exchange’s statement on Medium read, “It has been really difficult for us to operate Coindelta exchange for the last 6 months. The curb on the bank accounts by RBI has made us handicapped in order to provide seamless deposit and withdrawal services.” The Union government of India was supposed to inform the Supreme Court about regulations regarding cryptocurrencies on 29 March. However, the hearing was adjourned within minutes, owing to the government’s request. This disappointed many crypto enthusiasts in the country, including Coindelta.


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