Zebpay has shutdown its cryptocurrency exchange saying that it was unable to find a "reasonable way" to conduct its business. This was following RBI disallowing banks from providing their services for the purchase and sale of cryptocurrencies. The crypto–exchange said in a blog post that the ban has disabled the company and their customers from "transacting business meaningfully." In June, Zebpay warned users that they would be unable to cash in on their earnings due to the RBI directive. Last week, Zebpay notified users that it will cancel all unexecuted crypto-to-crypto orders starting 4 pm on September 28. Remaining coins and tokens would be credited to the users' Zebpay wallet, which would continue to function after the exchange shuts down. RBI's overnight ban in April on banking services was a blow to crypto-exchanges in the country. The regulator had justified the ban…
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