Remember the April circular from The Reserve Bank of India (RBI) barring Indian banks from dealing with crypto-currency exchanges?
Not much of a dead-end for players who prefer back-end tunnels like conversion to crypto-to-crypto trading platforms or hopping overseas (like Singapore or Estonia). The loophole that these players are taking is the vague state of law on peer-to-peer trading.
Zebpay and Kionex, for example, have crypto-to-crypto trading platforms.
While Zebpay has one pair of cryptos, Koionex has 23-odd pairs.
Unocoin, on the other hand, has launched UNODAX, a multi-crypto asset exchange.
BuyUcoin, established in 2016 as a crypto-currency exchange and wallet company, has announced the launch of its own token, BuyUcoin Token (BUC).
That should make life and trading easy for players like UNODAX, Binex, Zebpay and Kionex etc. even if/until the challenge to the the RBI circular in the Supreme Court concludes.