RATE Group | What Indian Crypto Exchanges Are Doing to Protect P2P Users
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What Indian Crypto Exchanges Are Doing to Protect P2P Users

23 Nov What Indian Crypto Exchanges Are Doing to Protect P2P Users

Posted at 07:57h in Bitcoin News by

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What Indian Crypto Exchanges Are Doing to Protect P2P Users

With the Supreme Court of India postponing the crypto hearing, the Indian crypto community is calling for better protection when trading on P2P platforms. Several top crypto exchanges in the country have shared their processes and policies they have implemented to protect their P2P platform users.

Also read: Indian Supreme Court Wraps up Crypto Hearing for the Year

A Standard KYC Protocol

With the Indian supreme court postponing hearing the arguments against the banking restriction by the central bank, crypto traders in India will have to continue using peer-to-peer (P2P) trading platforms to buy and sell cryptocurrencies for INR. In addition, the government has decided not to introduce the bill to ban cryptocurrencies in the Winter session of parliament.

Since the Reserve Bank of India (RBI) banned financial institutions from providing services to anyone dealing in cryptocurrencies, a number of local crypto exchanges began offering P2P trading to…

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