WazirX, CoinSwitch And ZebPay's Banking Troubles Highlight Urgent Need For Cryptocurrency Guidelines
3 years, 7 months ago

WazirX, CoinSwitch And ZebPay's Banking Troubles Highlight Urgent Need For Cryptocurrency Guidelines

News 18  

Over the past few days, things have become quite complicated for apps that allow users to buy and sell cryptocurrency in India and also for those who are investing in cryptocurrencies such as Bitcoin, Ethereum, Cardano, Dogecoin and others. Over the past few days, Paytm Bank has taken back support for banking services from three popular cryptocurrency trading apps in India. “We’re at the finishing stages to add new banking partners and bringing in multiple INR deposit options for our users to deposit funds to WazirX wallet,” WazirX has shared an updated statement on Twitter. At this time, only the CoinDCX platform supports the MobiKwik mobile wallet as an option to add money, while Google Pay, PhonePe and Paytm remain conspicuously absent as payment options on cryptocurrency trading apps. Banks have not yet issued any clarifications on their stand regarding cryptocurrency platforms in India, and neither have banks issued any guidelines or advisories for customers who may be interested in investing in crypto coins.

History of this topic

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