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Burn pit veterans share their stories of struggle after falling ill

July 18, 2018 |

They were on the frontlines of battle, but the real struggle was when they returned home.
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Here’s what Trump should tell Putin at their summit Monday

July 15, 2018 |

President Trump can have a successful summit Monday with Russian President Vladimir Putin in Finland and outwit his critics if he takes a tough-love approach to his seeming bromance with the Russian leader.
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They thought a squirrel was eating their tomatoes. But it was the mailman

July 12, 2018 |

When their tomatoes began going missing, a family in Montreal, Canada assumed it was the work of a squirrel. But when they checked their security camera, they saw the tomato thief had been the postman all along. – RSS Channel – Regions – Americas

Navy Finally Allows Women to Let Their Hair Down

July 12, 2018 |

The Navy says it will now allow servicewomen to sport ponytails and other hairstyles, reversing a policy that long forbade females from letting their hair down. Chief of Naval Operations Adm. John Richardson says it makes the Navy more inclusive. Many black women had asked for changes to the female…

When companies say a merger will result in lower prices, try laughing in their face

July 10, 2018 |

The next time a big company, and especially a telecom company, tells lawmakers and regulators that a multibillion-dollar merger will result in lower prices for consumers, I hope everyone in the room breaks out in laughter.

At this point, it’s patently obvious that such pledges of price reductions…

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Boys write heartbreaking notes to their families

July 8, 2018 |

The 12 Thai boys and their soccer coach trapped in a cave were finally able to send word home to their parents after nearly two weeks. – RSS Channel – World

2 Elements of Billionaires’ Deaths Their Kids Found Odd

July 7, 2018 |

Toronto police in late January revealed that, after a six-week investigation, they believed Canadian billionaires Barry and Honey Sherman were murdered in a targeted killing. One of the couple’s four children tells the Wall Street Journal he thinks police would have said something quite different had he and his siblings…

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI Ban

July 4, 2018 |

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI Ban

Cryptocurrency exchanges in India have one by one announced the shut down of their fiat deposits and withdrawals as banks start closing their accounts per RBI’s crypto banking ban. Meanwhile, they are trying to educate the central bank in hopes of easing the ban.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

RBI Ban Going Ahead

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI BanThe Supreme Court of India heard a petition against the crypto banking ban by the Reserve Bank of India (RBI) on Tuesday, July 3. However, it did not grant a stay on the ban. Instead, this petition, which was filed by the Internet and Mobile Association of India (IAMAI), will be heard along with four other petitions on July 20.

RBI issued a circular on April 6 banning all financial institutions under its control from providing services to cryptocurrency exchanges, starting on July 5. Without the stay by the Supreme Court, banks are likely to stop providing their services on July 5 per RBI’s order.

Shutting Down Fiat Support

One of India’s largest crypto exchanges, Zebpay, announced Wednesday:

Today we are disabling the rupee deposit and withdrawal options on the Zebpay app. This is being done in light of the bank account closures as per the RBI guideline…INR deposits and withdrawals have been paused in the Zebpay app until banks allow us again.

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI BanThe exchange recently warned its customers that rupee deposits and withdrawals may become impossible if its bank accounts are disrupted. In the meantime, Zebpay noted that crypto deposits and withdrawals as well as “crypto-rupee and crypto-crypto pair trading” continue to be supported.

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI BanAnother major Indian crypto exchange, Unocoin, issued a statement after the Supreme Court hearing on Tuesday. Reiterating that the court “has refused to hear the plea for interim relief” and that “The [next] hearing is set for the 20th of July,” the exchange wrote:

Banking services are expected to be revoked this week…if you are withdrawing or depositing any rupees in Unocoin, there could be a time when we may not honour such requests.

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI BanA smaller exchange, Coinome, stopped INR deposits at 11:59 PM on July 3. INR withdrawals will be discontinued on July 4 at 11:59 PM, the exchange advised its customers and requested them “not to Panic Sell. Your crypto assets will continue to retain value as per global markets.”

Pexo exchange also announced Wednesday that “We are closing the INR deposit and withdrawal request after 6 p.m. today as per the RBI guidelines. Requesting you all to withdraw your funds before the deadline.”

Banking Alternative/Extension

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI BanWazirx announced at the time of this writing that its “INR deposits & withdrawals are [still] working normally,” adding that “You don’t need to worry about cashing in/out of crypto as Wazirx P2P will help you cash in/out of crypto even after RBI ban.” The exchange recently announced the launch of its P2P trading service which will be live once banks stop providing services to the exchange.

Meanwhile, Pocketbits announced that its “INR deposits might not be available after 5th of July, but INR withdrawals will be available even after that. Users can Withdraw their INR anytime. Crypto Withdrawals and Deposits are always available without any restrictions.” The exchange clarified:

Our current banks have given us an extension to disburse all the funds, this does not mean we will have functioning bank accounts indefinitely. We will notify our users days in advance before the withdrawals are completely stopped.

Koinok, on the other hand, claimed at the time of this writing that “even after July 5, INR withdrawals will be available on Koinok and you will be able to withdraw your INR funds anytime.”

Exchanges Trying to Educate RBI

Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI BanAt the IAMAI petition hearing on Tuesday, the association submitted “a representation to the RBI which was a detailed document explaining blockchain, cryptos and how they function,” Wazirx’s founder and CEO, Nischal Shetty, told

According to CNBC-Awaaz, the Supreme Court sent a notice to RBI during the hearing, asking the central bank to respond within 7 days. Shetty elaborated, “if the RBI gets a deep understanding of blockchain and crypto then they may go easy on the ban and think about regulations.”

Unocoin emphasized on Wednesday:

We would like to let you know that this [RBI’s banking ban] is not a ban on cryptoassets and a policy in this regard is expected in the near future.

Disclaimer: does not endorse or support claims made by exchanges in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products or companies. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

What do you think of RBI’s action and how crypto exchanges are responding? Let us know in the comments section below.

Images courtesy of Shutterstock, Unocoin, and Zebpay.

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The post Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI Ban appeared first on Bitcoin News.

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Country stars who served their country

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These country music singers sing and they serve.
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Celebrities who served their country

July 4, 2018 |

Scores of stars have proudly served in our armed forces over the years.
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