Bank restrictions placed by the RBI have caused a headache for cops wanting to cash out the seized cryptocurrencies. The previous week, the central bank had blocked the customers of Mumbai-based PMC Bank (Punjab and Maharashtra Cooperative Bank), with 137 branches across the nation, from withdrawing or accessing their savings.
Currently, the Pune city Police department has not been able to access Rs 8.42 crore, which was converted into the Indian National Rupee from the virtual currencies that it had seized last year from an accused GainBitcoin Ponzi scheme, Akash Kantilal Sancheti, as reported by TOI on Wednesday. The units of coins sold were 244.0925 that included an indefinite amount of BTC.
