Recently, there has been a lot of cases where the IT department has raided the cryptocurrency exchange and halted the normal exchange process because of AML policies and other legal concerns.
The Government’s major concern is money laundering and moving currency from other country to India without paying taxes, hence we are avoiding all those possible cases by not accepting coins from other exchanges until our legal team gives a heads up on that. However, realising the users’ need to keep the coins in the offline wallet for long term investment, we are providing the flexibility to withdraw coins from our platform.
We at BuyBitcoin want to maintain our service quality to the utmost standard possible, and we can’t afford to make our exchange go down because of non compliance of the government rules.