Law enforcement officers in India have arrested Unocoin’s co-founder for operating a Bitcoin ATM kiosk, which the police called illegal. More arrests are likely, according to the police.
The co-founder of India’s first bitcoin ATM kiosk was arrested yesterday, the Times of India reported. Harish BV was presented before the court, which sent him to police custody for seven days. Fellow co-founder Sathvik Viswanath explained the firm’s business model and its legality.