The current cryptocurrency situation in India remains rather uneasy. To this day, banks are still not allowed to help out cryptocurrency firms.
For local exchanges, this has caused a fair few problems,
ZebPay is Coming Back to India
Some companies have been forced to shut down their services altogether.
Many expected ZebPay to not make a comeback so soon.
Late last week, the company has confirmed it will return to the Indian market.
That may seem strange, considering how they cannot open a local bank account.
Very little information has been made public as to how the banking situation will be handled exactly.
Relying on international transfers would be far from ideal for Indian customers.
Despite the banking ban, Indian crypto enthusiasts have found ways to obtain Bitcoin and top altcoins.
This is often done through peer-to-peer or OTC trading.
With ZebPay returning fairly soon, the options to acquire cryptocurrencies will increase.
Despite facing a lot of backlash over the decision, the Reserve Bank of India will not change its mind.
That is rather unfortunate, but it was completely to be expected.
Even the sessions at India’s Supreme Court are not helping matters all that much.
As such, the uneasy situation will remain in place for the foreseeable future.
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