A big movement by a Big exchange in INDIA

[darthmaul]

ZebPay took completely non-sense decision by doing so. They were billion dollar wallet and exchanger and had connected themselves with hand million customers already.

They should have not published any news like this, instead of this they should have been saying that they are getting migrated to the Peer to Peer optioning and will continue their services.

But no, they did not even think about that and I am thinking the owners and team behind it already rich enough to get retired from it. Lolz.

May be they could have turned their business into something speaking p2p venture but somehow they lost their hopes.

[gentlemand]

ZebPay took completely non-sense decision by doing so. They were billion dollar wallet and exchanger and had connected themselves with hand million customers already.

They should have not published any news like this, instead of this they should have been saying that they are getting migrated to the Peer to Peer optioning and will continue their services.
 

Maybe if they became a P2P website the Indian government would go after that? As far as I know there's no centralised website for P2P trading in China. It's all on stuff like Telegram.

They know more about their position now and in the future than we do.

[Patatas]

Maybe if they became a P2P website the Indian government would go after that? As far as I know there's no centralised website for P2P trading in China. It's all on stuff like Telegram.

In India, localbitcoins is the only p2p network used widely. The in-house exchanges are the shittiest service providers. They wouldn't let you withdraw a penny without verifying KYC documents, their rates are usually higher than the normal market rates, the service fees are high and security is next to a fuckin garbage bin. I don't see a single reason why anyone in India should use cuntpay or cuntsecure when they have 1000 better cunts in the market. Fun Fact: The panel that takes decisions on the financial stuff in India are the biggest scammers themselves.

[hunnykaushal]

Zebpay news is not that much bad they shut down their exchange because they do not want to introduce P2P and without that their volume decrease too much after RBI restrictions to Banks.

Crypto is at starting phase and it gonna grow too much.

[BrewMaster]

i don't get why you call this a "big move" by t his particular exchange.
ZebPay was a fiat to bitcoin exchange where people could go dump their Indian Rupee for bitcoin and ever since the banks closed their accounts they were screwed because their money was blocked, they couldn't make more money and they had to pay their users back too.
closing their business which can't work for now is a logical move not a big one! which should have happened a long time ago.

[Jokerrrrrr]

RBI ban cryptocurrency trading through banks but they also argued that they are not against block chain and digital technology, they support it and they ban cryptocurrency because it has many harmful effects for now on Indian economy like corruption, hacking and many more
So we can't say it is a permanent ban on crypto in India, we can hope if some regulations will come in future or if government will find some useful cases of cryptocurrencies then there may be chances of crypto to be legal in India

If we talk about exchanges then there are some exchanges doing well with P2P trading
For zebpay, they did a very good job in Indian crypto world but I can't comment on the future plans of zebpay unless I have always positive hope regarding crypto world

[tunapa]

several series of banning on cryptocurency and at point it looked like a joke because it kept coming serially and then i was used to pump and dump the market  by releasing of such  news and then after the dump, they release news of unbanning. i m sure this indian exchnage ban news is going to be reversed and unban very soon.

[cryptohunter]

Crypto through centralised organisations in India is toast. They restrict gold and are willing to impoverish their own people destroying cash. What makes anyone think they'll permit crypto? Better that it's killed off now before it gets major traction and causes more damage.

+100

It does though kind of always amaze me that the countries with these huge populations are the ones that seem to put up least resistance to having all opportunities denied them by the very tiny minority there that seemingly decides what is worst for them.

I expect many there with money to invest will find a way to be part of it all if they really want to.

[DenCho?]

It looks like indian government understand that they could not Ban crypto trading completely and try to do some thing more accurate. At least they don't have so much control like China.

And i think all theese news are some kind of fud and misunderstood like it is mist of time) every thing Will be ok with crypto all over the world and nobody could do any thing with this fact in longterm

[jojohamasa]

Let's be more frank and realistic
  Economically dominant countries decide to the adopt or the reject
In other words, if the United States recognize  and many other countries in Europe, for example Germany, England, France
As China also
No country will stand up to the tide.

[rosemary4u]

similar to China, now Indians have two options.
one is to migrate to other exchanges such as those that are not in their own country. there are lots of them too. from Bitstam, Bitfinex, Kraken for bitcoin to Binance, Cryptopia,... for altcoins.
another option is as other said to start P2P trading. which they are mostly doing now. there are platforms such as localbitcoins and a lot more of them locally not to mention all the decentralized exchanges that are currently around and can be used.

There is still hope for Indians in the world of cryptocurrencies although there are many negative speculations which are not in favour of crypto enthusiasts. No matter what happens, they can still engage in trading through the exchanges and P2P.  I always prefer P2P such as the use of  reliable escrow for all trading activities.

[cxmyifan16]

I am sure that India will accept btc with time and we will see how they will benefit from this. Now i have heard that there wasn't any big movement in India. Maybe it is just a plan or maybe i have missed something important

[sudeshkumar]

True The Govt. of India  is in no mood to accept crypto and that can be judged its action recently,however if the supreme court decide otherwise it would be a great move and big cheers for crypto followers.

[onrise]

True The Govt. of India  is in no mood to accept crypto and that can be judged its action recently,however if the supreme court decide otherwise it would be a great move and big cheers for crypto followers.

It is very clear with the decision they have being taking in last 1 year clearly states they do not want to accept crypto and now with the election coming in next year their would not be any decision on consider it would happen. Thus people cannot take benefit of such a revolutionize technology.

[Dudeperfect]

Well, I think it's time to differentiate the crypto exchange business and individual crypto transaction and at this stage, India is facing issues with the uncertainty. There is no law to identify and recognize cryptocurrencies but at the same time, no law is prohibiting us from spending funds held in Bitcoin or any other cryptocurrency provided it is being used for the purpose/activity which is not restricted by the law. I am optimistic about the decision of the supreme court.