[2018-07-29] Huobi Informs Users on Decision to Launch P2P Trading in India

[maarx]

Following several announcements of plans for global expansion, this week crypto exchange Huobi has reportedly informed Indian users of its intentions to present them with a P2P platform that allows trading in Indian rupee. The email notice published by local media promises zero transaction fees for exchanging BTC, ETH, and USDT.

https://news.bitcoin.com/huobi-informs-users-on-decision-to-launch-p2p-trading-in-india/

Reports: Huobi to Launch P2P Platform for Indians

Cryptocurrency exchange Huobi has announced in an email to Indian users its decision to offer peer-to-peer trading services in their country, local crypto media reported. The notice states that they will be entitled to zero transaction fees for trades in bitcoin core (BTC), ethereum (ETH), and tether (USDT). Users will be able to buy and sell these cryptocurrencies with support for transactions in Indian rupees (INR), according to a copy of the correspondence published by Crypto News, India.

P2P will encourage more Indian crypto-investors?

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[snipie]

I am a little bit confused. So the ban imposed by the Reserve Bank of India affects only the banks? You do not have the right to trade cryptocurrencies with INR sitting in a bank account but you are free to trade it from your own pocket in foreign exchanges?

[ghermghuda]

I am a little bit confused. So the ban imposed by the Reserve Bank of India affects only the banks? You do not have the right to trade cryptocurrencies with INR sitting in a bank account but you are free to trade it from your own pocket in foreign exchanges?

To me what I think is that, they want to stay away from promoting cryptos (not like advertising but to them they think when they stop crypto-fiat conversions at banks, they've done their best), and that is not good for the Indian crypto enthusiasts.
Anyways I think it's good Huobi is giving them an alternative. That's great.

[bob_rushford]

The ban of banking services related to crypto wasnt well thought of. It was imposed after visa and master card banned such services. If huobi is true then this will prove to be a great news for crypto traders. Lets see what happens.

[snipie]

The ban of banking services related to crypto wasnt well thought of. It was imposed after visa and master card banned such services. If huobi is true then this will prove to be a great news for crypto traders. Lets see what happens.

Mastercard fought Bitcoin in the past and imposed restrictions for banks for using their cards with bitcoin like what happened in Neteller but now i think they changed their attitude. And concerning Visa i don't know if it has did the same or not but I didn't read anything similar to what Mastercard did.
I think it is the banks who are leading this fight to restrict the usage of bitcoin but they will loose it at the end.