Bitcoin Exchanges Shutdown in India Due to Regulations, Pivot to ATMs
To boost crypto-to-fiat liquidity in India amidst an ongoing banking ban, Indian exchanges are discovering methods that may function contained in the grey areas of regulation.
Unocoin in its latest announcement revealed its plan to launch a group of Bitcoin ATMs all through India. The Bengaluru-based crypto change, which has been in the sector since 2013 and presently boasts a 1.2 million customer-base, already launched one crypto shopping for and promoting kiosk in its hometown. It permits clients to change Bitcoin, XRP, Ethereum, Bitcoin Cash, and Litecoin for cash – and vice versa.
The utilization of cash all through the crypto shopping for and promoting framework isn’t new. Throughout the wake of the RBI ban, of us have already switched to p2p and unregulated over-the-counter shopping for and promoting to bypass the web banking limitations. Not solely the tactic has resulted in the beginning of unregistered storage exchanges, however it certainly has moreover…