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Indian Crypto Exchanges are Seeking Secure, Viable, Permanent Payment Solutions to Struggle with Unclear Regulations
Summary: Indian crypto exchanges are now seeking secure, viable, permanent payment solutions to struggle with unclear regulations. Banks were still not keen on permitting crypto transactions. This was mainly due to the central bank’s unfavorable stance towards digital assets. As per Avinash Shekhar, a co-chief executive of ZebPay, banks were reluctant to do business. This resulted ...
Indian crypto exchanges are now seeking secure, viable, permanent payment solutions to struggle with unclear regulations. Banks were still not keen on permitting crypto transactions. This was mainly due to the central bank’s unfavorable stance towards digital assets.
As per Avinash Shekhar, a co-chief executive of ZebPay, banks were reluctant to do business. This resulted in the exchange delay settlements due to which even it was venturing out for other payment processing options.
Meanwhile, other exchanges like Bitbns have built their own basic payment processor that allows essential transactions. Gaurav Dahake, the CEO of Bitbns, said: “These are only stop-gap arrangements and not a solution to the problem the industry is facing.”
By Amy Liu
Tags: Crypto Exchanges,Indian,Regulation
Link: Indian Crypto Exchanges are Seeking Secure, Viable, Permanent Payment Solutions to Struggle with Unclear Regulations [Copy]
