Unocoin, a major Indian crypto wallet provider and exchange, has suspended rupee (INR) deposits and withdrawals “as per orders” from the country’s central bank, according to Unocoin’s blog post July 23.
Unocoin notified its customers that fiat deposits and withdrawals are “temporarily disabled” until “an alternative method of funding is identified and deployed.” Meanwhile, crypto asset deposits continue to be active on both Unocoin’s crypto-rupee trading platform and partner crypto-crypto exchange Unodax.
On July 4, another major domestic exchange, Zebpay, preempted the deadline by freezing fiat deposits and withdrawals.
That same day, fellow exchange WazirX revealed it would transform into a P2P platform so as to avoid in-house crypto-fiat conversion.
Last week, the court deferred the final hearing on the ban, originally scheduled for July 20, until September 2018.
India Exchange Unocoin Ceases Withdrawals Unocoin, an India-based exchange, has suspended withdrawals after India’s central bank made several demands. The suspension affects fiat deposits and withdrawals.
Exchanges “Deposits/Withdrawals Notice,” came the post title from popular Indian cryptocurrency exchange Unocoin this week. “As per orders from RBI,” the exchange explained, “bank INR withdrawals and INR Deposits have temporarily been disabled.
“Deposits/Withdrawals Notice,” came the post title from popular Indian cryptocurrency exchange Unocoin this week. “As per orders from RBI,” the exchange explained, “bank INR withdrawals and INR Deposits have temporarily been disabled.
As the start of the crypto banking ban by the Reserve Bank of India approaches, cryptocurrency exchanges in the country are preparing to stop fiat deposits and withdrawals while boosting crypto-to-crypto trading.
Согласно сообщению ресурса Apptopia, торговля криптовалютой на мобильных устройствах становится всё более популярной — каждый следующий месяц превосходит предыдущий по количеству активных пользователей и новых регистраций за день.
Discussions over whether to ban cryptos in India might be on the agenda again. The country’s Finance Ministry is calling for a broad-based consultation on the matter. While India’s Supreme Court struck out on a previous crypto trading ban, the subject of a blanket cryptocurrency ban is once again making headlines in the country.
India’s cryptocurrency sector is booming during the extended nationwide lockdown. Several Indian cryptocurrency exchange executives have shared with news. Bitcoin. com their record-breaking stats, bullish trends, and positive sentiment despite the coronavirus-driven lockdown.
The government of India has informed Lok Sabha, the lower house of parliament, about the Ministry of Corporate Affairs’ inspection of cryptocurrency businesses. Minister of State for Finance and Corporate Affairs Anurag Singh Thakur provided details of two companies in particular.
A historic day for the Indian crypto community, the supreme court has finally ruled on the case against the banking ban by the central bank, the Reserve Bank of India (RBI). The court held that the RBI circular which places a banking ban on the crypto industry is unconstitutional.
Zebpay is returning to India more than a year after closing down local crypto exchange operations due to the banking ban imposed by the central bank, the Reserve Bank of India (RBI). Under a new leadership team, the exchange has also revealed a number of upcoming new services, including a crypto-to-crypto exchange and a way […]
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