Zebpay,one of the India's popular & largest cryptocurrency exchange, is stopping customer's fiat transaction in both deposite & withdrawl as a result of the Central Bank's banking barrier..
In an announcement on Wednesday,july,2018,Zebpay declares that they are moving to disable all Indan Rupee(INR) deposits & withdrawls for customers as per the Central Bank's mandated ban of prohibiting Banks from offering services to cryptocurrency firms..
As reported earlier by CCN, the Reserve Bank of India,issued a circular on April 5,2108 to all the regulated financial institutions that they must discontinue their banking/financial services to those companies involving cryptocurrency sector within three months..The deadline of three months of ending service,comes into effect on Thursday..
In a corporeal conquer for Central Bank against the cryptocurrency sector,The Supreme Court deny to delay bank with a ruling yesterday.The next hearing date of Industry's case against the ban is July 20,2018.
Already,crypto traders,investors & wider crypto-industry remain hopeful of promised regulations that would recognize the essence of this sector & legalize Cryptocurrency..