In India, restrictions on bitcoin transactions that have been imposed on CRYPTOCURRENCY exchanges were effective from Thursday. After the RBI order, all the Bitcoin exchanges, including the Zebpay, have closed the business in rupees.
The RBI issued the circular on 5th April and ordered all the banks to stop the services of the Bitcoin exchanges. Zebpay the largest digital exchange of Bitcoin and other virtual currency, tweeted that he is closing down the transaction in rupees and his mobile app will not be able to pay for Bitcoin transactions. The company had asked its customers to withdraw money a few days ago.
These restrictions mean that no Indian will be able to deposit or withdraw from the crypto wallet from any bitcoin exchange in India. Although it can deposit coin, such a crypto-to-crypto pair trading service will also continue. Zebpay co-founder Sandeep Goenka tweeted that he is preparing to go to the Supreme Court against the RBI circular.
?? Do Indian Government doing right by banning Bitcoin ??