RATE Group | Bitcoin (BTC), Ethereum (ETH), XRP ATMs Launch In India To Bypass RBI Ban
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Bitcoin (BTC), Ethereum (ETH), XRP ATMs Launch In India To Bypass RBI Ban

15 Oct Bitcoin (BTC), Ethereum (ETH), XRP ATMs Launch In India To Bypass RBI Ban

Posted at 01:02h in Ethereum News by

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India’s RBI Cracks Down On Crypto Exchanges 

As reported by Ethereum World News previously, despite India’s willingness to accept blockchain technologies, the Reserve Bank of India (RBI) enacted measures to curb banking relationships with local crypto exchanges in April. Once the ban went into effect in July, all crypto platforms in the Asian country lost access to banking services, which disallowed these startups from accepting Indian Rupee deposits or withdrawals.

Of course, as you would expect, the crypto community at large was outraged with this move, leading India’s Supreme Court to schedule another court hearing for the case in September. However, as seen with the recent shutdown of Zebpay’s exchange platform, the most recent hearing was sadly met with zero success from crypto advocates.

Although Zebpay’s wallet functionality is still up and running, as seen on CoinMarketCap, the India-based exchange has no volume to speak of, indicating that the RBI’s harsh…

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