Despite bank ban, cryptocurrency exchange Zebpay reopens in India

It has been reported that the Singapore-based cryptocurrency exchange Zebpay was severely beaten by the Central Bank of India, causing the exchange to return to the Indian market more than a year after the country closed.

The IBS Intelligence Agency quoted the "Report" on January 29 as saying that after Zebpay ceased service in India in late 2018, Zebpay will start its trading service in India again, although the Bank of India ruling that caused its bankruptcy has not changed.

Stop in front of regulation

In September 2018, Zebpay suspended trading on Indian exchanges after the Central Bank of India (RBI) banned banks from serving cryptocurrency companies.

Despite closing operations in India, Zebpay announced in May 2019 that it would expand its operations to Australia, suggesting that the company still exists and is growing.

Regardless of restrictions, come back

According to IBS intelligence, the ban on the Central Bank of India has not changed, but Zebpay has decided to open its doors to Indian customers again.

As the market picked up, Zebpay updated the company's business scope to include new CFOs and CMOs. The company also touts new features and cryptocurrency-based trading pairs. IBS writes that, in addition, the transaction is expected to pave the way for participation in mutual funds.

Over the past few months, the Supreme Court of India has held several meetings on the ban on the Central Bank of India to clarify the situation.

Cointelegraph sought feedback from Zebpay, but received no response as of press time. Upon receiving a response, this article will be updated accordingly.

Original link: https://cointelegraph.cn.com/news/crypto-exchange-zebpay-reopens-in-india-despite-banking-ban

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Ieo, which used to be ten times easier, is there anyone else involved?

At the beginning of the new year, the coin opened the curtain of the IEO "issuing the first exchange" stage...

Blockchain

Contract exchange seeks compliance: as low as 1,500 knives for high NFA licenses

Editor's Note: This article has been deleted without changing the author's original intention. The number o...

Blockchain

FTX Bankruptcy Estate Bets Big $150 Million SOL and ETH on the Line as Sam Bankman-Fried's Trial Unfolds

It seems that addresses associated with the insolvent cryptocurrency exchange, which is currently being managed by a ...

Market

Encryption exchange "moving tide": US SEC "strongly pushed away", Middle East and Hong Kong "welcoming with a smile"

Due to the recent pressure from the SEC, several major exchanges around the world are preparing to flee, with the UAE...

Blockchain

Eat Reason Rationally | Who is the real winner of the Steem incident?

Sun Yuchen VS Steem community was the most discussed topic in the industry last week. On February 14, Sun Yuchen comp...