Despite the RBI ban, there are reports of more cryptocurrency exchange platforms springing up in India. The country’s apex bank issued a directive in April prohibiting banks from facilitating crypto transactions.
New Local Exchange Platforms
Beginning in July, India’s banks must comply with the RBI crypto ban. However, just two days after the proclamation, CoinDCX announced that it was beginning operations in the country. The platform will even provide trade tracking services for Indians in rupees. CoinDCX announced its launch via the platform’s Medium account.