Another Indian Exchange Coindelta closed
Last year (2018) we saw Zebpay closed their cryptocurrency exchange services and now another exchange Coindelta has stopped their services in India. This is very sad news that two cryptocurrency trading exchanges are closed because of Banking ban by Reserve Bank of India.
They are flashing notice announcement about this closure in their website https://coindelta.com
The reason they have mentioned for this shut down is banking ban like Zebpay. As per them its difficult to operate without fiat support and they were struggling since last 6 months and now finally decided to stop.
In this difficult situation other Exchanges like Bitbns and WazirX have come forward to help the traders. They have announced all deposits from Coindelta to their platform will be free and they won't charge any transaction fee. They will refund 100% of the transaction fee. This is indeed a great help to traders of Coindelta as they must be worried about their holdings and now atleast they can move it without any charges.
I appreciate this move by both the exchanges and hope other Exchanges like Koinex.in etc will also do the same.
Here is the news article explained this information in details.
Talking about the latest news about the case between Indian cryptocurrency exchange and Reserve Bank of India (RBI). Hearing which wa supposed to happen on 29 March has again pushed yo another date. This is the sixth time when every time a new date is given rather than taking it to closure. Looking at the current scenario it seems regulations are far far away for Indian crytpo traders and exchanges.
Here is the news article sharing the detailed information about the case.
Thanks much for stopping by.
Dear Alok Ji,
Let's wait for some more time. Modi Government is dead against crypto and forced the RBI to ban these exchanges.
We will have to wait until the largest democratic process finishes up successfully. Either Modi (if reelected) need to change his mind or Congress (if elected) must give a lending hand to crypto. If either of these things happen, the crypto is sure to have a new lease of life.
An engaging article indeed, Alok ji.
Dear @marvyinnovation I agree with you on this that Modi Govt has not anything positive in crytpo regulations. Since its election time so can't expect anything for atleast next 3 months.
I seriously hope that if they get re-elected then they must get the regulation thing done as Crytpo is the new thing and we must move with world.
Appreciate your response sir and loved your thorough comment. Thanks much for stopping by.
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You are welcome @alokkumar121.
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