Huobi’s cryptocurrency exchange just released a peer-to-peer (P2P) trading platform for cryptocurrency investors in India. The international multilingual cryptos exchange is said to support the trade with the Indian Rupee (INR).
Specifically, Huobi officials sent an email to Indian cryptocurrency investors on July 26th to brief them on the company’s intentions to offer P2P crypto trading across India. The email stated that the Singapore-based cryptocurrency exchange platform would provide zero-fee trading support for Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).
Huobi cryptocurrency exchange platform to offer substantial crypto investments without third-party involvement
Traders of high volumes would be able to exchange their digital assets to the Huobi Global Exchange, while, at the same time, being able to get 24/7 customer support operations conveniently.
Moreover, Indian cryptocurrency investors would be able to use Huobi’s P2P platform unrestricted by the Reserve Bank of India (RBI), which has directed all domestic banks to cease providing financial services to digital assets investors.
The Reserve Bank of India had also addressed Indian courts to ban the use of INR in the cryptocurrency trading. On July 3rd, as informed by the CryptoGlobe, the Supreme Court of India decided to place limitations on crypto-related operations, following the guidelines set by the RBI.
Strict regulations for cryptocurrencies in India
In a separate hearing on July 20th, Indian sources reported that the Supreme Court of India did not comprehensively deal with the allegations made by the Internet and Mobile Association of India (IAMAI) for cryptocurrency-related operations. The IAMAI is a non-profit organization that concentrates on enhancing the offerings of Internet-based businesses across India.
The Supreme Court has ruled to set a further hearing on September 11th, at which the Securities Board of Exchange India (SEBI) and several other local bodies will make new rulings on cryptocurrencies.
Huobi OTC “offers a bridge of exchange between fiats and digital assets,” as reported on the official Huobi site.
Ian Kennedy is the newest contributor to Crypto Daily Gazette. He enjoys running, practicing minimalism and cooking. Ian is a graduate of Wesleyan University in Connecticut where he studied journalism, Arabic and international affairs. Ian mostly covers stories concerning emerging blockchain technology.