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Udyamee

Baki sab thik ? • 1y

𝗪𝗵𝗮𝘁 𝗪𝗲𝗻𝘁 𝗪𝗿𝗼𝗻𝗴: 𝗪𝗶𝘁𝗵 𝗭𝗲𝗯𝗽𝗮𝘆?🦓 India's crypto king Zebpay, est. in 2014, quickly became India's largest crypto exchange. At its peak, it was handling over $1 billion worth of TXN. Zebpay was a perfect startup with strong leadership and innovative product, But good time didn't last long. So What Went Wrong? • Regulatory Uncertainty: In April 2018, The RBI prohibited banks from providing any TXN services to 🪙 exchanges. • Operational Difficulties: The RBI ban meant Zebpay could no longer process TXN. This drastically reduced trading volumes and revenues. • Lack of Clear Regs: Due to the govts unclear regulations, investors lost confidence in crypto trading. With this came financial strain. Bounce Back: On Sep 28, 2018, Zebpay shutdown its exchange operations in India due to the "extremely difficult" regs. Soon in 2020, the RBI lifted the ban. Zebpay then resumed its ops and now it supports over 100 cryptocurrencies maintaining a signif presence in market💹

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