Crypto News tl;dr – 06/04/2018 RBI wrecks Indian crypto market, lightning network and more

In today’s Crypto News; RBI’s new policy and its ramifications, more about the arrests in relation to embezzlement in South Korea and more.

RBI Orders All Banks to Stop Dealing With Cryptocurrencies

In an announcement made by the Reserve Bank of India in the early hours of 5th April, the regulatory body has ordered all companies, banks, and businesses that are registered with them to stop dealing with cryptocurrencies and related accounts. The announcement comes as an explicit notice period of three months, within which all business must be terminated.

For further reading https://cointelegraph.com/news/indias-central-bank-to-stop-dealing-with-all-crypto-related-accounts-not-ban-on-crypto-commenters-say

Spain Tax Agencies Prepare Dragnet for Tax Evasion

Financial firms in Spain have been ordered to turn over their trading information, by the tax authority of the country. Over sixty companies have been served with this order, to nip tax evasion and money laundering in the country.

Crypto For Cash in Moscow

In what seems like the first of such options, Moscow has opened a local street exchange where customers can come in and pay with rouble for a crypto coin.

Four South Korean Crypto Officials Detained for Embezzlement

Four cryptocurrency executives from top exchanges in the country have been detained over alleged embezzlement charges. The alleged sum is amounting to a couple of billions of won. An official from Coinnest is among the detainees. 

Bitcoin Lightning Network’s First App Hits Google Play

The first android application for Bitcoin Lightning Network was launched yesterday. And is now available for download on all android devices.

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