Crypto Exchange Zebpay Halts Trading

Total News – Atlanta, GA 9/28/2018. Zebpay, the largest cryptocurrency exchange in India by volume, has announced it is shutting down its trading service starting 4PM today (28th September).

The company announced in a tweet today that it will cancel unexecuted orders and no new order will be accepted. The cancelled, unexecuted orders will be credited back to the Zebpay wallet which will work even after the exchange stops.

The decision was due to the ban issued by India's central bank earlier this year that prohibits banks from offering financial services to crypto exchanges. 

Zebpay said:

"The curb on bank accounts has crippled our, and our customer's, ability to transact business meaningfully. At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business. As a result, we are stopping our exchange activities."

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