On the appeal of Coinbase & CoinDCX , India’s top crypto currency exchange platforms like WazirX , Coin Switch Kuber has banned rupee for purchasing crypto currency .Top crypto currency exchange platforms has banned UPI , today UPI (UNIFIED PAYMENT INTERFACE) is widely been used for payments, but because of there is no regularity in country maximum agencies are in confused condition .
Where as because of the recent statement of national payment corporation of India (NPCI), the fear has been increased in these exchange platforms agencies , NPCI has claimed in their statement that they did not even have knowledge of crypto exchanges using the UPI framework. According to the reports of writers , from Wednesday users will not be able to make deposits from their accouts in coinswitch application, this is because of the confusion emerged due to statement of NPCI , between all these things the competetor exchange platform WazirX gives an answer to a user on twitter , who was facing problem to deposit .It’s been many years in India appeals have been made to pass a law on crypto currency , either ban crypto currency or make a good policy or rules and regulations on crypto.
On the other hand central bank stated that crypto currency is the major threat to stability and it should get banned . Because of the income tax imposed on crypto by Indian government crypto is now being accepted in India widely .
Today there is no fixed number about how big the Indian crypto market is , but according to sources there are around 15 to 20 million investors and india has around of holding of 400 arab rupees ( around 5.25 billion dollars) .