RBI GIVEN DEAD LINE TO ZEBPAY

[shivakumar D S]

AS per indian goverment RBI OF INDIA  given dead line to ZEBPAY till 5th july to his costemer for withdraw or exchange

[maxy1999]

sorry to hear that , its badnews to cryptocurrency

[Lucy.luies]

Lets wait for positive hearing from supreme court against regulations of crypto currency

[stompix]

AS per indian goverment RBI OF INDIA  given dead line to ZEBPAY till 5th july to his costemer for withdraw or exchange

Learn how to create a topic that won't end in the trash can...

Mention  a source:
RBI deadline on cryptocurrency: Bitcoin exchange Zebpay asks users to withdraw money

Use proper English and if you can't make write down more than one line at least pay attention to that.
If you can't do even that just copy paste and mention the source (same as the one I posted above)

As the RBI deadline for banks to stop doing business with cryptocurrency exchanges in India expires on July 5, one of the biggest digital currency exchanges in India Zebpay has asked its users to withdraw their money before the deadline ends.

[krishnapramod]

Not only Zebpay, July 5 is a broad deadline for all Indian exchanges/banks, got a mail from Unocoin yesterday. Guess, Coinsecure is busy with their 5-day compensation period. This is the time, want to withdraw, do so. Exchanges are always blamed for their incompetence, here that ain't the case, they are requesting/appealing. If you want, get convert it to INR at a loss or move it to a wallet (having access to private keys). With this government Rupee has crashed to an epic low of $69. Maybe offtopic, but it changes next year, 2019. Have faith, hold it or sell it.

[SONG GEET]

This is really a sad news but we all know government always hate to deal with cryptocurrencies and they actually have fear of losing their control over financial system.

I think zebpay will continue to serve as crypto vs crypto exchange, Indian people now might have to depend more on p2p exchanges like localbitcoins and paxful.

[paul00]

I know this will turn bitcoin to goes down again even if it not recovers yet and still bad news is coming this will make market unstable since every indian users in zebpay will sell weather bitcoin value are at red and it will be the lost of the investors selling at this moment.

[budismile]

AS per indian goverment RBI OF INDIA  given dead line to ZEBPAY till 5th july to his costemer for withdraw or exchange

You should attach a link, so readers can better understand with your writing. after I read the news (https://www.businesstoday.in/current/corporate/india-biggest-digital-exchange-zebpay-asks-users-to-withdraw-money-before-rbi-deadline-on-july-5 /story/279689.html)
I can understand. so Bank India tells Bticoin users in India to make a withdrawal by the time limit until July 5th.
Bitcoin users are confused because Bitcoin's price drops to 20%.
I think, this news is bad news for Bitcoin users in India.
hopefully things will get better in India

[Dudeperfect]

It is true that government has instructed banking institutions to stop giving service to the companies involved in crypto trading. However, I don't see any impact of this decision in the long-term because as the individual user we can always trade crypto to fiat and vice versa even though the banking channels by taking the help of platforms like localbitcoins. On the other hand, this decision will definitely affect the profit and revenue model of domestic cryptocurrency exchanges and that's the reason why they have introduced crypto to crypto trading in India recently.

[Arnold110]

This is really a shocking news in recent time. So many traders will move out from market for this decision. I hope RBI will rethink and will take favorable decision in future for the crypto traders.

[RavagedLife]

That's really sad to know. I know in future RBI itself will go in favour of Cryptocurrency.

[cryptoking252]

You should have put the source with the post. Otherwise it's tough to believe the news to be true. But as much as I know the news is true and I am very sad for that. A negative news again. I am worried about the prices.

[solarion]

AS per indian goverment RBI OF INDIA  given dead line to ZEBPAY till 5th july to his costemer for withdraw or exchange

Zebpay actually they are stupid and showed all the traders details to the tax department as my Indian friend confirmed with me. I do not know why they have not ran their business on free zone areas. If they do that they will never get these kind of problems dude.

Whatever the government they actually do not able to stop the usage of bitcoin transaction to fiat cash. If the zebpay closes in other exchange you can find the good price. Before zebpay came to the market my friend only goes with LBC to change the BTC to fiat.

[SoliDCoiNs777]

It is a bad news for this crypto market. For this reason i think bitcoin price will may fall down because so many zebpay users sell their project. Demand will decrease also.

[johnokeefe09]

India is the place where so many tech-celebs belong to. So, in India, this kind of decision taken by RBI is really disappointing. I think so many crypto enthusiast in India will fall down now which is not good for the market. However, I think tech-celebs will interfere in this issue to resolve the issue and legalize crypto in India through the announcement by RBI.

[gentlemand]

India is the place where so many tech-celebs belong to. So, in India, this kind of decision taken by RBI is really disappointing. I think so many crypto enthusiast in India will fall down now which is not good for the market. However, I think tech-celebs will interfere in this issue to resolve the issue and legalize crypto in India through the announcement by RBI.

India is a Bitcoin irrelevance right now.

Two accessible metrics are localbitcoins volume, which is 154 BTC for 1.3 billion people. And full nodes which is 10, so 1 per 130 million people.

That's no great loss to Bitcoin. There is vast future potential that they're throwing away, but I wouldn't expect anything less from a country willing to impoverish its own people by destroying their cash. What makes you think they'd permit something like crypto?

[KingScorpio]

AS per indian goverment RBI OF INDIA  given dead line to ZEBPAY till 5th july to his costemer for withdraw or exchange

i dont get this message to his costemer " to his costemer for withdraw or exchange," do you mean they will illegalise zeppay?

[bman01]

This news is a drawback to the market of cryptocurrency. The users of cryptocurrencies have the advantage of staying anonymous. This has concern the government as government or any third party cannot interfere in the market of cryptocurrency. But still the users has the option to convert their cryptocurrency to fiat money.

[cryptohobbs7]

It is a very sad news for the crypto community that Zebpay has been given deadline by the RBI. Downfall of crypto transactions for all the Indian exchanges.

[stompix]

AS per indian goverment RBI OF INDIA  given dead line to ZEBPAY till 5th july to his costemer for withdraw or exchange

i dont get this message to his costemer " to his costemer for withdraw or exchange," do you mean they will illegalise zeppay?

They simply ordered the banks to stop dealing with exchanges.
Nothing else.

Zebpay (and all the others)  can continue acting like an exchange but without fiat deposits and withdrawals.