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Paxtradings Crypto Minute: June 23, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: June 23, 2018

Zebpay Exchange In India Instructs Users To Withdraw Indian Rupee Funds

Due to the looming threat of increased regulation efforts in India, the country’s leading cryptocurrency exchange desk, Zebpay, has instructed its users to withdraw their Indian Rupee (INR) funds from the exchange. According to The Next Web, the threat stems from the Reserve Bank of India’s (RBI) April 2018 directive, which instructed all banks in the country to withdraw support to cryptocurrency-related businesses. While Zebpay will continue to provide cryptocurrency-to-cryptocurrency trading service, it cannot guarantee services for Indian Rupee-based trading.

Tencent Partners With Chinese Government To Improve Blockchain Security

Tencent has announced a collaboration with the China Blockchain Application Research Center, China Technology Market Association (CTMA), and more than 20 public and private institutions to eliminate blockchain-related security issues. According to CoinDesk, Tencent’s vice president, Bin Ma, announced the collaboration, called the China Blockchain Security Alliance, at the China Blockchain Security Forum in Beijing. The forum, which was hosted by the CTMA, was created to facilitate cooperation between organizations to protect “the healthy development of blockchain industry.

Ireland Banks Accused Of “Cryptocurrency Profiling”

Some Irish cryptocurrency owners have claimed banks in the country are prohibiting them from using their financial services. According to the Bitcoinist, investors in Ireland have been forced to cease operations or open accounts with foreign banks as a result. Bitcoin trading platforms that operated in Ireland, such as Eircoin and Bitcove, assert that banks have withdrawn their services to cryptocurrency brokers. Eircoin has since ceased operations in Ireland.

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