Zebpay to Stop Fiat Withdrawal

Local crypto community hopes that issues will be solved ASAP
04 July 2018   772

Leading bitcoin-exchange of India Zebpay announced the stop of deposits and the possibility of withdrawing funds in Indian rupee (INR) due to the ban of the country's central bank to provide banking services to crypto-cash companies.

On April 5, the Central Bank of India banned all financial institutions of the country, including banks, to provide services to companies whose activities are related to crypto-currencies. RBI has given banks three months to fulfill this order.

Despite several attempts to challenge the innovation in court, the Supreme Court of India left the ban in force.

Last month, Zebpay urged users to actively file requests for withdrawal of funds in fiat money, warning that withdrawing the fiat deposits could become "impossible."

Meanwhile, local crypto-enthusiasts, investors and industry representatives still hope that rules will soon be adopted that will legalize this sector.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   830

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”