India's cryptocurrency exchanges were dealt a blow this week when the country's Supreme Court upheld restrictions on their ability to access bank accounts – and those trading platforms are taking proactive steps ahead of another court date later this month.
Zebpay, the largest crypto exchange in India by trading volume, said in a tweet on Wednesday it had paused the Indian rupee deposit and withdrawal services following the Supreme Court's decision earlier this week.
As previously reported by CoinDesk, the Supreme Court said Tuesday that the Reserve Bank of India's (RBI) circular issued in April will "remain implemented," which prohibits banks and other regulated financial firms from doing business with crypto exchanges.
However, Zebpay said that its fiat-to-crypto and crypto-to-crypto trading services are still active. According to data from CoinMarketCap, Zebpay has seen over $5
