Zebpay Reduces Intraday Fees Drastically

If Zebpay users buy and sell cryptocurrency on the same day, the fee will be only 0.1% for the transactions
05 April 2018   899

One of the largest crypto-currency exchanges in India, Zebpay, has announced a drastic reduction in fees for intraday transactions. From April 2, if users buy and sell cryptocurrency on the same day, the fee will be only 0.1% for the transactions.

For example, if you buy 2 bitcoin (BTC), and sell 1.5 BTC on the same day, you will be eligible for the 0.1% fee on the buying and selling of 1.5 BTC. For the remaining 0.5 BTC, the usual low Zebpay fee will apply.

Zebpay Announcement

Zebpay stated in the announcement that Bitcoin and other cryptocurrencies display a lot of price volatility, and day traders who try to gain from this volatility can now benefit from Zebpay’s low intraday fee of 0.1%.

Zebpay fee announcementZebpay announcement regarding fees

It it worth noting that for the purpose of intraday rebates, “same day” is the period from midnight-of-a-day to midnight-of-the-following-day. At the time of making the transactions, the users will be charged the usual low Zebpay fee. On the following day, after checking thier intraday trades, Zebpay will automatically refundthe users the extra fee that was charged earlier.

Previously, we have reported that Zebpay cryptocurrency exchange announced the beginning of support for Litecoin.

Mexican Exchanges to Critisize New Regulation

Industry representatives have already called it a disaster for the country's economy as a whole
18 March 2019   48

At the end of last week, the Bank of Mexico published the details of a new legal framework for cryptocurrency regulation. Industry representatives have already called it catastrophic, not only for their business, but also for the country's economy as a whole, Bitcoin.com writes.

Since the circular seems to have been written in a rush and without careful analysis and basic competence, it leaves to the interpretation of certain important things.. Mexico is the endpoint to the biggest remittance corridor in the world (second largest population of migrants), the 6th most visited country by tourists and [is the] country with the largest number of free trade agreements. [Therefore, the country] has a lot to gain from the industrial application of virtual assets (activos virtuales) to facilitate free trade, tourism and financial inclusion. The impact goes beyond the crypto industry. I believe it damages the economy as a whole.

Acosta Checa

CEO, Isbit 

Isbit has already switched to working with corporate clients. If the exchange wants to continue to serve the public interest, then it will have to protest the new rules, Checa noted. Volabit CEO explained that these requirements apply only to regulated fintech companies, which are not yet available in Mexico, since the procedure for registering such companies does not exist. Unregistered exchanges can continue to serve customers until September of this year.

Essentially stipulated that they wouldn’t authorize any cryptocurrency to be offered by regulated financial companies.

Tomas Alvarez
CEO, Volabit

Bitso - another Mexican exchange - in its blog said that the new requirements will not cause a full stop of its operating activities, but can significantly slow down the development of the industry.