Zebpay shuts down exchange activities

The Indian cryptocurrency exchange platform Zebpay has suspended its activities due to the banning of the country’s Reserve Bank to offer banking services to companies that operate electronic currencies.

Since last Friday September 28th users of the platform, which so far total more than 3 million, heard the news of the suspension of the service on the network, unlike the electronic wallet, which will continue to operate. Users can continue to deposit their active crypto.

Spokespeople for the platform said: “Despite the regulatory and banking problems throughout our trip, we continued to look for solutions, since we did not want India to lose its airplane to the digital assets that feed the public blockchain.”

However, all transactions in cryptocurrencies are paralyzed. The crypto to crypto exchanges were canceled and the current assets were transferred to customers in their Zebpay portfolios.

Other exchanges in India have submitted to the Supreme Court their requests against the RBI ban that affects their activities. However, the case is still postponed.

M.Pino

Source: Bitcoin.com

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