#koinex

India’s Proposed Crypto Ban Could Maroon Investors from Cashing $100 Million+

Besides preventing citizens and residents of India from participating in the crypto markets going forward, the proposed crypto ban by the Indian government could also negatively impact investors who have already put their money in digital assets.

No way to liquidate crypto

According to the Times of India, more than $100 million invested by Indians in Initial Coin Offerings (ICOs) since 2016 could…

RBI Asks Central Bank To Defreeze Koinex’s Bank Account Holding Little Over 12 Crore INR

The Reserve Bank of India (RBI) is directed to ask Central Bank to defreeze Koinex’s bank account, holding little over 12 crore INR.

https://twitter.com/maticnetwork/status/1235104383953559552

It has been reported that the court has asked to “set aside” the RBI circular of Banking ban released on April 6, 2018. This means that the circular is no longer valid.

Image: twitter.com

Howe…

2019 Throwback: Bursting the startup bubble

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The Indian startup ecosystem has many celebratory entrepreneurs today. Names like Sachin and Binny Bansal, Vijay Shekhar Sharma, Bhavish Aggarwal, Ankit Bhati, and Ritesh Agarwal need no introduction.

But, for every Flipkart, Oyo, Paytm, or Ola, there are 90 other failed startups. In fact, according to a report by the IBM Institute for Business Value and Oxford Economics, close to 90…

India: Cryptokart Exchange Shuts Down Citing Regulatory Uncertainties 

Cryptokart, an India-based cryptocurrency exchange is now among several other bitcoin trading venues in the South Asian country that have closed their doors due to regulatory uncertainties and lack of interest on the part of consumers, reports New Indian Express on July 20, 2019. Another Indian Exchange Kicks the Bucket Per the report, Cryptokart isRead More

Indian Crypto Startups Look to New Markets to Escape Harsh Environment

Crypto exchanges in India such as CoinDCX and WazirX are now setting their sights on global markets after one of the country’s leading exchanges Koinex, shut down operations last week citing an unclear regulatory framework in the country.

Cryptocurrency exchanges are trying options including peer-to-peer transactions, crypto-to-crypto-transactions, and entry into foreign markets to survive the…

Koinex Exchange Shuts Down Ahead of Crypto Regulation

Koinex Exchange Shuts Down Ahead of Crypto Regulation

Another Indian crypto exchange has shut down permanently due to the banking restriction and regulatory delays. The exchange cites denials in payment services and a sharp decline in trading volume resulting from the recent news of a draft bill to ban cryptocurrencies.

Also read: Indian Crypto Community Petitions Government for Regulation

Koinex…

Koinex, shuts shop forever

Koinex was founded in 2017 and is the first and the largest exchange that deals with crypto currency in India. Its reputation and value soared in 4 months after its founding. It has 40000 patrons in India and with a value of $265 million in trading.

The good times of Koinex was cut short when the Indian government issued circular banning crypo assets. After the circular Reserve Bank of India…

Indian Exchange Koinex Shutdowns After Months Of Uncertainty from RBI Crypto Ban

Although India had always been a hotbed for the development of crypto infrastructure, the country’s draconian and immature crypto regulation has stifled the scope of innovation there. Most in the crypto ecosystem would be already familiar with the regulatory news coming out of the country with a draft of a bill going as far as punishing people dealing in cryptos with as much as 10 years of jail…