Investors in India are having trouble sending money to two of the country’s leading cryptocurrency exchanges using the government-backed money transfer system.
CoinSwitch Kuber and WazirX customers are on the exchange today. Unified Payment Interface (UPI) they have a hard time making a deposit.
Unified Payment Interface; affiliated with the Reserve Bank of India National Payments Corporation (NPCI) It is a system that facilitates money transfer between banks.
While the CoinSwitch team did not explain why the deposits made via UPI were disrupted, the WazirX team made the following statement on Twitter:
“UPI is currently unavailable. We will notify you when it becomes available again. In the meantime, we are trying to offer more options for those who want to invest in Indian rupees.”
Although there is no official statement on the subject, according to the information provided by Reuters, CoinSwitch currently operates in the country. “legal uncertainty” decided to temporarily suspend UPI operations.
Officials of the National Payments Authority issued a short statement a week ago, and the cryptocurrency exchanges in the country Even if he is using the Unified Payment Interface, he is not aware of it. explained.
Earnings from cryptocurrency trading as a result of the recent decision in India 30 percent tax was imposed. Although this decision partially put cryptocurrencies on a legal basis, uncertainties regarding the use of cryptocurrencies remain.