RATE Group | Cryptocurrency: Bitcoin exchange app Zebpay pulls the plug following policy restrictions
43827
post-template-default,single,single-post,postid-43827,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Cryptocurrency: Bitcoin exchange app Zebpay pulls the plug following policy restrictions

28 Sep Cryptocurrency: Bitcoin exchange app Zebpay pulls the plug following policy restrictions

Posted at 10:46h in Bitcoin News by

[ad_1]

Bitcoin and cryptocurrency exchange app Zebpay has announced that it will be stopping its exchange business effective from 4 pm today, that is, September 28 2018. This follows prohibition of all regulated financial institutions – including banks – from providing any service in relation to virtual currencies.

‘We are stopping our exchange. At 4 PM today, we will cancel unexecuted orders & credit your coins to your Zebpay wallet. No new orders will be accepted,’ the company said in a statement.

Zebpay wallet, however, will continue to work, enabling users to deposit and withdraw coins/tokens into their wallets.

Cryptocurrency players suffered a big setback in July with the SC declining to offer interim relief on RBI’s policy restrictions imposed in April.

‘Despite regulatory and banking problems along our journey, we continued to look for solutions as we did not want India to miss the bus of digital assets that power the public blockchain,’ the company further stated. ‘However,…

[ad_2]

Source link

Tags:
, , , , , , , ,