start of the crypto banking ban by the Reserve Bank of India
cryptocurrency exchanges in the country are preparing to stop fiat deposits and withdrawals
Zebpay plans to continue crypto-INR trading even after the ban
No Fiat Withdrawals But Trading to Continue
The date for India’s crypto banking ban imposed by the Reserve Bank of India
All regulated banks and financial institutions must stop
stop servicing cryptocurrency exchanges by July 5
rupee withdrawals could stop
Zebpay bank accounts rupee deposits and withdrawals will become impossible
Zebpay Announcement: Your Rupee Withdrawals Could Stop
Our industry has approached the Supreme Court of India to challenge the circular, as we feel it is counterproductive, and against the interest of citizens
rupee deposits and withdrawals will become impossibleZebpay or any other party, in regard to your rupee balance, transactions, trading, deposit, or withdrawal.
Q) Are rupee withdrawals working at present?
A) Yes.
Q) How long will rupee withdrawals continue?
A) As long as our bank accounts are functional.
Q) Why are you asking customers to withdraw rupees?
A) Our primary responsibility is customer-protection, and we do not want customers to suffer
Q) You are only talking about rupee balances and withdrawals, what about BTC and other
Why did you make the announcement now, and not wait till the last date
We issued multiple warnings after RBI issued the circular on 6 April 2018. The primary purpose was to inform our customers of the risks they face
issues that can arise out of everyone rushing to sell crypto, or withdraw rupees
three-month deadline mentioned in the RBI circular, we wanted customers to have enough time
If I do not withdraw my INR from Zebpay, and your bank accounts shut, will I be able to buy CRYPTO
present intention is to allow crypto-INR pairs to trade even after our bank accounts shut So if I have INR balance in my Zebpay account after your bank accounts are shut, will I never get my money back?
Zebpay does not buy, sell, or trade in crypto. It is just an exchange platform that match-makes buy-and-sell orders
about 20%, from ₹458,879 to ₹367,733, before leveling off around ₹405,000 ZEPAY MARKET
It is just an exchange platform that match-makes buy-and-sell orders
Supreme Court Hearing After the RBI Ban
On April 6, RBI issued Circular
under its control from providing services to cryptocurrency
How much do you think the RBI ban will affect the Indian crypto industry and exchanges