The largest Bitcoin exchange of India moved to Malta

The leading Indian provider of a cryptocurrency wallet Zebpay, and until recently the largest platform for trading Bitcoin and other digital assets in this country, has registered a new office in Malta. This writes Quartz .

Zebpay announced the closure of the digital asset exchange service caused by the restrictive policy of the Central Bank of India regarding cryptocurrencies, at the end of September. However, in less than a month, the company, which also has an office in Singapore, is ready to open a new exchange with a residence permit in Malta.

As stated on the Zebpay website , the new exchange will offer services to residents of 20 EU countries. It will not be available to residents of India.

The Exchange has not yet made any official statements about starting work in Malta, the publication’s request for comment was left unanswered.

Zebpay’s latest statement regarding the closure of the trading platform in India, said the company will continue to offer Bitcoin wallet services to users.

At some point, Zebpay accounted for about half of all Bitcoin users in India, whose number is estimated at 5-6 million people. The total number of downloads of Zebpay applications for iOS and Android devices amounted to 3 million. The application allowed working with 22 trading pairs based on 20 cryptocurrencies.

In July, the Supreme Court of India has repeatedly upheld the prohibition of local financial companies to conduct operations with cryptocurrency. Since then, various often conflicting rumors have circulated in the local media regarding the future regulation of this industry.

In August, a representative of the Ministry of Finance of India, who did not disclose his name, said that cryptocurrency could be recognized as an exchange commodity in this country.

Subscribe to the BlockchainJournal news in Telegram: BlockchainJournal Live – the entire news feed, BlockchainJournal – the most important news and polls.