On September 28, a cryptocurrency exchange Zebpay announced it would stop its exchange activity. At 4 p.m. today (28 September 2018), the exchange’s team will cancel all unexecuted crypto-to-crypto orders and credit users’ coins / tokens back to their Zebpay wallets. No new orders will be accepted until further notice.
“Your trust has been the pillar of our strength. Despite regulatory and banking problems along our journey, we continued to look for solutions as we did not want India to miss the bus of digital assets that power the public blockchain,” – writes Zebpay team. – “However, the recent past has been extremely difficult. The curb on bank accounts has crippled our, and our customer’s, ability to transact business meaningfully. At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business.”
Zebpay team notes that the Zebpay wallet will continue to work even after the exchange stops. Users are free to deposit and withdraw coins / tokens into their wallets.