Hope Unocoin doesn't shutdown too soon as I still am using this exchange to store my BTC. Few days back only they were talking about introducing ways to enable deposit/withdrawals in INR and now they are removing staff members which is sad. They are not having much volume also and BTC is being sold at 1 lac INR less than the market price due to less buyers/sellers.
This is how an exchange can severely be affected once the government of the country it is doing business is not that very friendly with cryptocurrency and is exerting effort for banks not to cooperate. I am sad for India because this country has a big potential and can easily replace China and Russia easily and its population is quite receptive to new technology judging on its flourishing BPO industry. I am hoping that eventually things can work right with India and that time when come when there would be positive regulations in placed for all players to work with.
When the RBI is not in favor of cryptocurrencies, I don't see anything happening soon in its favor and in this one year, almost all big Indian crypto exchanges have shut down due to no trading volume. Unocoin was my last hope but that's ending soon.
