So just 5 months after they were announcing they will do that and the other and they will continue operations, they will launch crypto to crypto pairs and continue without banks, they've closed the shop.
Unfortunately, this shows one thing, without the money coming via bank transfers, there is no volume, no trade and in the end no customers.They were down to 600k from close to 10 mils a day in April probably it would have died on its own in a couple of months.
Unfortunately, this shows one thing, without the money coming via bank transfers, there is no volume, no trade and in the end no customers.They were down to 600k from close to 10 mils a day in April probably it would have died on its own in a couple of months.
Of course, that's how you shut down cryptocurrencies. People who are saying that it's impossible to stop cryptocurrencies should read about this case. If you are unable to trade crypto to fiat pairs you're done as long as there's not enough acceptance to allow you to cash out in products and services.
This is what China did to stop crypto in their country and the same thing is now happening in India. Should we be worried? Probably not because it won't happen in the EU, Japan and many other crypto friendly states, but the possibility remains.
