Following the Supreme Court’s refusal to grant a stay on the RBI's decesion in April to prohibiting entities, exchanges in India have notified their customers of the inability to handle INR deposits and withdrawal.
Zebpay, the largest crypto exchange in India Zebpay said it has paused INR deposits and withdrawals. “Today we are disabling the rupee deposit and withdrawal options on the Zebpay app. This is being done in light of the bank account closures as per the RBI guideline,” the company said on 4th of july.
Ajeet Khurana, chief executive of Zebpay, tweeted: Am very sad! But we will continue our relentless efforts to get things sorted. I am sure crypto is good for India. If we, as a nation, do not make up our mind, we will be caught on the wrong side of history and miss the crypto bus. And that will be a tragedy.
but it's all about temporery INR deposits and withdrawals it doesn't mean end of the world for the exchanges.
on the otherhand some exchanges also said that INR withdrawals are not stopping dispite the ban.
on many exchanges fiat-to-crypto and crypto-to-crypto trading services are still active. According to data available at CoinMarketCap, the exchange processed $2.9 million worth of trade in last 24 hours. The BTC/INR volume itself was worth $1.27 million. Other fiat-to-crypto pairings were also active. However, the volume is considerably lower than normal.
Similarly, the volume of trade was $2.11 million at another Indian exchange, Koinex.
Just wait for sometime nothing is going happen becouse we all knows peer to peer transation about to come in picture as hinted by some exchanges.
so it's temporary buzz, stay with your holding. will win surely.
what your view comment below..
guud
Watch the market...
u r right