Major Indian exchange shuts down amid country’s anti-crypto crack down

The Koinex crypto exchange recently announced that it would be shutting down operations, ironically just a few months short of hitting its two-year anniversary. The Indian government’s crackdown on crypto entities has taken a toll on another major trading firm. In a blog post, Rahul Raj, the firm’s head, vented his thoughts on the dark state that the Indian crypto sector found itself in. Just recently, India’s financial regulatory body, the Reserve Bank of India (RBI), passed an official ordinance forbidding banks from associating with digital currency businesses. While most attributed the firm’s shut down to the pessimistic attitudes surrounding