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.
Koinex Shuts Down
Indian cryptocurrency exchange Koinex announced its shutdown Thursday. CEO Rahul Raj explained that “After months of uncertainty and disruption, we have regretfully decided to shut down all digital assets exchange services and operations today,” adding: