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Virtual currency exchange Zebpay shuts down following RBI freeze

Launched in 2015, Zebpay is arguably one of the largest entities in the cryptocurrency business in India

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Bitcoins are not mined in India, due to high electricity and manpower cost

Mayank Jain
One of India’s largest cryptocurrency exchanges, Zebpay has announced that it’s shutting down its exchange business from Friday 4 PM. In a blog post, the company said that all pending transactions will be cancelled and remaining cryptocurrency units will be credit back to user’s wallets.

Even as the company stated that it will continue to run its wallet service, shutting down of the exchange blow is being seen as a big blow to the virtual currency ecosystem in India. The Supreme Court is yet to announce its final stance on the future of cryptocurrencies like Bitcoin and Ethereum in India after

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First Published: Sep 28 2018 | 3:04 PM IST

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