Indian Crypto Exchanges Go P2P to Skirt Payment Channel Restri | Crypto World Analysis

Indian Crypto Exchanges Go P2P to Skirt Payment Channel Restrictions

A number of Indian cryptocurrency exchanges are facilitating peer-to-peer transactions as part of an ongoing effort to get around restrictions imposed by banks and payments companies.The Reserve Bank of India has issued a number of warnings to them regarding payments to crypto exchanges.

The exchange planned to open with the popular Unified Payments Interface service, but state financial regulators put the brakes on that, stating that they were not aware of any exchange using UPI. Last week, Indian exchange CoinSwitch Kuber also halted crypto deposits and withdrawals through the payments network on its platform.

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