Indian regulatory agencies have remained hostile towards the cryptocurrency ecosystem. The Indian government has, so far, failed to pursue a definitive stance on the same. Under these doubtful circumstances, another Indian cryptocurrency exchange, Koinex ceased operations following the suit of its predecessors.
On a more positive note for the Indian crypto traders and enthusiasts, the leading cryptocurrency exchange, Binance exhibited prices for different digital assets in INR [Indian National Rupees].
Indian Rupee (₹) on Binance: Binance exchange now sports prices in INR (₹) as well. These are the represented prices for Cryptocurrencies. So far it was only available on Binance Info. pic.twitter.com/7e46dOnSrG
— Coin Crunch India (@coincrunchin) June 29, 2019
Amidst all the rumors of a regulatory clampdown in the country, and ahead of a crypto bill, the latest news drew a hopeful picture for the crypto proponents in the region. With a population of over 1.3 million, India, alone, has a massive potential to bolster the ecosystem.
Despite complications, cryptocurrency trading via INR recorded a high volume by Bitcoin statistics and service platform CoinDance. P2P Bitcoin market place, Paxful and over-the-counter Bitcoin trading platform, LocalBitcoin have registered significant volumes of trading via INR on their platforms.