Over the past few months, the situation in India has gone from bad to worse. Back in April, the RBI made it clear they do not want banks to conduct any business with cryptocurrency firms. A deadline was proposed for all financial institutions to adhere to. As of July 5th, Bitcoin companies can no longer access financial services in the country.
India’s Supreme Court recently enforced this harsh decision. For cryptocurrency exchanges, it is a very troublesome development which needs to be addressed. Some companies pivoted their business model to focus on crypto-to-crypto trading solely. No fiat currency trading is allowed on platforms such as ZebPay and Unocoin at this time. This method still allows exchanges to collect revenue and commissions.
P2P Trading Remains an Option
Centralized cryptocurrency exchanges offer a high degree of convenience. At the same time, they are also subject to these regulatory whims. Peer-to-peer trading options are a lot more appealing in this regard.
Please follow this channel for more details ........