Indian Exchange Coindelta Suddenly Shuts Down Due to Regulatory Pressure

The government of India has not had a good relationship with crypto even though the country has one of the most important markets in the region. During the last year, the constant efforts from the Royal Bank of India to ban the use of cryptocurrencies hurt the ecosystem, especially affecting the local exchanges, which experienced a situation of general uncertainty that severely damaged their business.

The last victim of India’s regulatory pressures is Coindelta. According to a post published on its official website, the Exchange announced that it would be shutting down its services due to the “unfavorable environment” in which it has been operating since its inception:

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