National Payments Corporation of India Says It Will Not Ban Cryptocurrencies ...
India’s payments authority, the National Payments Corporation of India, has reportedly said that it will not ban cryptocurrency transactions. Banks are to make their own decision whether to allow crypto transactions. The National Payments Corporation of India (NCPI), has refused to ban cryptocurrency transactions, local media reported Thursday. NCPI runs the Unified Payments Interface (UPI), an instant real-time payment system that facilitates inter-bank transactions. It is regulated by the central bank, the Reserve Bank of India (RBI). Instead of banning crypto transactions, NCPI....
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Cryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support. However, moments later, the National Payments Corporation of India (NPCI), which developed UPI, stated that no crypto exchange is using the UPI system. Coinbase Launches in India, Hit With UPI Problem The Nasdaq-listed cryptocurrency exchange Coinbase announced Thursday at an event in Bengaluru that its trading platform will be fully available for retail traders in India. The company said that customers will be able to buy cryptocurrencies....
On Sunday, three days after adding support for the popular Unified Payments Interface payment instrument in India, Coinbase – the largest US-based cryptocurrency exchange – removed the feature to purchase bitcoin using the system in India. UPI is an instant real-time payment system designed by India’s National Payment Corporation to enable interbank transactions via mobile phone on Coinbase’s […]
America’s largest exchange suspended some payment services on its newly launched Indian exchange due to pressure from the local payment regulators. The largest US-based crypto exchange Coinbase has stopped payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the South Asian subcontinent.The UPI is the payment portal governed by the National Payment Corporation of India (NPCI), which facilitates buy orders on Coinbase’s India services. The exchange has already updated its payment method information on its website for....
In the light of recent events concerning the curb on the Unified Payments Interface on cryptocurrencies, leading banks have now asked for a formal directive from the National Payments Corporation of India (NCPI). The supposed “shadow ban” on cryptocurrencies has created a lot of conjecture amongst leading banks. This curb came into effect just based […]
A number of cryptocurrency exchanges in India are disabling rupee deposits, particularly payments using the Unified Payments Interface (UPI) system. This followed a statement issued by the National Payments Corporation of India (NPCI) regarding the usage of the UPI system by crypto exchanges.
Indian Exchanges Stop Offering Major Payment Options
Options to deposit Indian rupees at cryptocurrency exchanges are dwindling. A growing number of cryptocurrency exchanges have disabled INR deposits using the Unified Payments Interface (UPI) system, which is the most widely used....