India can ban cryptocurrency exchanges

Will India follow China and ban all cryptocurrency exchanges? Let's try to find out
03 November 2017   2655

One of the government committees of India recommended that lawmakers prohibit the work of "cryptocurrency dealers" in the country. Information about this appeared in the local edition of the Economic Times.

However, the source does not give more complete information about the reasons for this decision.

Instead of closing cryptocurrency dealers, the government should take steps to curb buying and selling of bitcoins or cryptocurrencies in cash. This move can reduce illegalities in the country.
If exchanges come under the definition of dealers, then in case of closure of domestic cryptocurrency exchanges, buyers will start buying them from foreign exchanges.
 

Hersam Rehman
CEO & Co-founder, Bitxoxo

Rehman said providing suitable guidelines to bitcoin exchanges could help exchanges and buyers of the currency. Exchanges had earlier requested the government to penalise individuals who are trading in it using cash.

Binance Android App to Support CC Payments

Additionally, crypto-fiat exchange Binance Singapore was launched
25 April 2019   83

Binance has updated the application for the Android OS. Now users can buy cryptocurrency using their credit cards.

In particular, the feature of buying Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with your credit card is now available.

At the same time, the launch of the Binance Singapore crypto-fiat exchange took place. So far, only one trading pair is available to users of the site - BTC / SGD, but later in the listing other coins may appear.

Singapore users need not only to create an account, but also to link it to an account in the local Xfers payment service, which provides cryptowallet approved by local regulators.

It is noteworthy that earlier Xfers was a partner of Coinbase, when the latter launched its services in Singapore, but relations between the companies were terminated.