After many months since it left India, cryptocurrency exchange platform Zebpay has announced its intention to return. The company will now be relaunching since the Reserve Bank of India (RBI) has properly clarified its position on cryptocurrency in the country.
Back in September 2018, Zebpay shut down its platform because of the crypto ban initiated by the RBI. The company announced at the time that it couldn’t find a proper way to conduct its regular business and decided to exit the Indian market. The company however continued operations in Australia, Malta, Denmark, France, Germany, and 17 other European countries.
Recently, the RBI clarified its position on digital currency in the country. According to India’s apex bank, it only put a few restrictions on crypto trading in the country but did not place an outright ban. The announcement cleared the thick air on crypto in the country, certainly spurring Zebpay’s decision to return.
In a recent note on the company’s decision to return to India, Zebpay says it is introducing new features along with new management as well. It said:
“A new leadership team, crypto-crypto trading, no-fee trading on select pairs, an upgraded focus on security and innovation, and a passive income and borrowing program on the horizon.”
The case on the state of cryptocurrencies involving the RBI has been concluded. However, judgment is reserved.