India’s Crypto Exchanges Face Final Deadline This Week

[Kargai]

In April this year the Reserve Bank of India (RBI) and the Securities and Exchange Board of India ordered all banks and financial organizations to wrap up their dealings with traders crypto exchanges.

In the same time, and with the crypto market dropping hard, the exchanges in India saw the number of transations and users dropping up to 90%.

" According to reports the RBI has made the assertion that digital currencies have no intrinsic value, comparing them to Ponzi schemes. It has also cited money laundering, terrorism, and tax evasion concerns to justify its anti-crypto stance."

On their side crypto exchanges try to make their point claiming they have adhered to the correct KYC and AML procedures, that some key point of India's constitution allow allows citizens to enjoy the right to carry on any occupation, trade, or business, etc.

Source : https://ethereumworldnews.com/indias-crypto-exchanges-face-final-deadline-this-week/

So at the end what could happen ? It seem we'll have the answer in the next 48h and it could be a very big thing (bad or good) for our fellow indians players

[rack001]

Most of the big exchanges stopped transactions few months back , at least localbtc is operating , and hopefully it will keep operating  as its p2p stuff.