Reserve bank of India imposed India's crypto banking ban so, all regulated banks and financial institutions must stop servicing cryptocurrency exchanges by july 5.
Some exchanges have paked their bags to shift the base abroad, so as to evade the regulatory crackdown.
International Digital Asset Platform (IDAP) is one such exchange started by india based founder but has to set up the company in Estonia (Europe) to run the crypto exchange legitimately.
Zebpay, the India's biggest cryptocurrency exchange in india, warned its customers this week that
"rupee withdrawal could stop".
Zebpay launched a crypto-to-crypto trading service in April, and show their intension to continue offering crypto trading.
Unocoin, another crypto exchange in india announced the launch of asset allocation tool recently also called as crypto basket, which allow traders to buy "cryptocurrency based on marketcap" and "according to exchange volume"
Various crypto industry have engaged with central banks to offer alternative ;the country's Supreme Court said it will hear all petition against the ban on july 20.
Let's hope for the best.
