“A few days after launching, we ended up disabling UPI because of some informal pressure from the Reserve Bank of India.” crypto cryptocurrency bitcoin $BTC
Crypto Exchange Coinbase Halts Service in India Due to 'Informal Pressure' From Central Bank RBI
Coinbase launched in India on April 7. Armstrong went to India for the launch. The company said at the time that users could use the UPI system to buy cryptocurrencies on the platform. However, the company disabled the UPI option a few days later. “And India is a unique market, in the sense that the supreme court has ruled that they can’t ban crypto, but there are elements in the government there, including at Reserve Bank of India, who don’t seem to be as positive on it,” the Coinbase boss opined.
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