Unocoin ATM

Harish BV, co-founder of Bengaluru-based cryptocurrency exchange, Unocoin, was arrested allegedly for running crypto ATM, which police called illegal

They did not have any licence from RBI, Sebi or any other agency to carry out the bitcoin transaction, says police

Another co-founder Sathvik Viswanath has defended his company’s business model, saying it’s perfectly legal for Indians to buy, own or sell bitcoins

The placement of the ATM is in the development phase, says Unocoin’s founder

The crypto startup plans on setting up these ATMs across Malls where there are required infrastructure

Unocoin’s ATM, once in placement, will be India’s first crypto ATM