Crypto Exchanges Are Already Adapting to India’s Bank Account Ban
On the other hand, shifting to over-the-counter trading has also become one strategy that several Indian exchanges are taking to circumvent the RBI’s bank account curb.
KoinEX, an exchange with around $1.5 million 24-hour trading volume according to CoinMarketCap, has collaborated with another platform called WazirX to launched a peer-to-peer trading service dubbed KoinLoop, based on a local news report on Tuesday.
The service is seen as a way to cut the exchange’s direct ties with banks so that investors can buy or sell cryptocurrency assets in a peer-to-peer manner.
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