It’s been nearly 6 months since the RBI imposed a ban on cryptocurrencies businesses using fiat and banking channels. Since the exchanges and business have modified their business models mostly to peer to peer model and have stayed in a non-supportive regulatory environment. Survival like this looked tough and now we have the first victim

Zebpay, one of India’s first cryptocurrency exchange and app-enabled bitcoin wallet provider, has issued a circular that on its medium channel that stating that it may have to stop Rupee(Indian Fiat) withdrawals as its bank accounts may be disrupted in light of RBI circular dated April 6, 2018, which prohibits banks and financial institutions from providing