The current cryptocurrency situation in India doesn’t look promising. With the RBI officially banning all fiat currency-based transactions pertaining to Bitcoin and altcoins, a worrisome situation was created. Huobi is looking to enter this market through a new peer-to-peer trading venture. It’s a very interesting decision, and one that bypasses the trading ban altogether.Huobi Goes Peer-to-Peer in India India is a very big country for cryptocurrency. Its domestic exchanges have always generated a fair amount of volume. Companies such as Unocoin and ZebPay have become household names within the global cryptocurrency community. Unfortunately, these companies have faced a major setback courtesy of the country’s central bank. A few weeks ago, the Reserve Bank of India decided to prevent all banks and financial service providers from offering services to cryptocurrency firms. It was a very unfortunate turn of events, although there is a small chance the situation will turn around fairly soon. India’s Supreme Court
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