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Despite the strict statements of the Indian officials and the uncertainty in the regulation of the crypto industry, one of the cryptocurrency exchanges sees record of the trading volumes growth. The dynamic is ongoing, as was said in an interview with news.Bitcoin.com by Nishal SHETTI, the CEO of Wazirx exchange.
According to the representative of the company, the “recent upticks” in the cryptocurrency rates have prompted lots of people in India to get back to trading. Since then, the growth of trading resumed and reached new levels.
The crypto banking ban imposed by the country’s central bank, the Reserve Bank of India (RBI) didn’t get much result: the residents of the country bypass this prohibition via the peer-2-peer platforms. The traders continue buying and selling digital assets that way. Wazirx has also launched a similar service, an exchange-escrowed P2P platform. It attracted a vast number of users and allowed trade volumes to grow to the new levels. Nishal SHETTI called this performance “tremendous” and noted that the daily trading volume on the exchange grew to 200 BTC. By now, it is the highest volume indicated on all Indian crypto exchanges.
LocalBitcoins also indicated the growing popularity of cryptocurrency trading in India. The government restrictions force Indian citizens to find new ways of digital assets trading. Currently, further regulation policy in India is not clear.
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