Express

Two Major Indian Cryptocurrency Exchanges Halt Deposits Amid Regulatory Uncertainty

Amy Liu

Summary: According to Reuters, two major Indian cryptocurrency exchanges have disabled deposits via a popular payment system. Users were unable to deposit cash via the United Payments Interface (UPI) to buy cryptocurrency on the CoinSwitch Kuber and WazirX exchanges. UPI is a popular real-time payment system regulated by India’s central bank. Reuters added that users complained ...

According to Reuters, two major Indian cryptocurrency exchanges have disabled deposits via a popular payment system. Users were unable to deposit cash via the United Payments Interface (UPI) to buy cryptocurrency on the CoinSwitch Kuber and WazirX exchanges. UPI is a popular real-time payment system regulated by India’s central bank. Reuters added that users complained about the lack of clarity from the exchanges on why the halt happened, but said that CoinSwitch halted UPI acceptance due to “regulatory uncertainty”; WazirX said its deposit facility via UPI had been disabled back in December.

By Amy Liu

Last Update:

Tags: ,,
Link: Two Major Indian Cryptocurrency Exchanges Halt Deposits Amid Regulatory Uncertainty   [Copy]
Next:

Related Articles

  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 1 day ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 2 days ago
  • Trump Adviser's "Whale Debut" with $680M Bitcoin Bet Faces Early Losses 4 days ago
  • S&P 500 Enters Key Turning Point Window; A Cautious "Wait-and-See" Approach is Adv... 6 days ago
  • Why a "One-Size-Fits-All" Approach to Stablecoin Issuance Fails Given Diverse Fiat Curr... 7 days ago

    • You need to login to comment.