Zebpay has ceased all digital currency-related trading on its platform, effective Sept. 28. The exchange cited the “extremely difficult” conditions that crypto-related businesses had to operate in recently as the reason behind
Cryptocurrency enthusiasts and entrepreneurs in India anxiously waited to see how the country’s Supreme Court would rule regarding the banking ban that was put into place by the Reserve Bank of India (RBI).
After several months fighting with banking institutions in the country, more cryptocurrency exchanges in India are reporting that banks are now allowing them to set up accounts and deposit and withdrawal fiat.
The Reserve Bank of India has told the Supreme Court that cryptocurrencies cannot be recognized due to the country’s existing legal framework.
While not wanting to make a huge deal out of it, India’s central bank, the Reserve Bank of India (RBI), has quietly been working behind the scenes on the possible expansion of the world’s future currency.
CoinGeek’s Becky Liggero spoke with Mohit Lalvani, who launched India's first cryptocurrency wallet—QuikWallet—in 2012, about his dealings as a blockchain pioneer with government regulators in the country.
Despite the ongoing central bank ban on decentralized cryptocurrencies, the government of India is reportedly considering using the digital coins as a substitute for smart cards.
Unocoin, one of the largest cryptocurrency exchanges in India, has suspended its Indian rupee (INR) withdrawal and deposit services in the wake of the Reserve Bank of India (RBI) ban.
Cryptocurrencies like Bitcoin need to be regulated in India as they “encourage illegal transactions.” That was the argument that the Reserve Bank of India (RBI) made last Friday before the Supreme Court of India.
Reserve Bank of India (RBI) has finally spoken up about its recent decisions regarding cryptocurrencies, which has garnered global attention after a number of local companies challenged them in court.
Indian cryptocurrency exchange Zebpay has halted deposits and withdrawals in Indian rupees, ahead of the pending ban on cryptocurrency businesses that came into force on Thursday.
Banks will be banned from engaging in cryptocurrency-related companies starting July 5, 15 days before the Supreme Court hearing on whether the ban is unconstitutional.
