Another Indian crypto exchange bites the dust! Indian crypto exchange Coinome today announced in a tweet that it will suspend all crypto markets effective 2 pm on May 15th, 2019.
All crypto markets on Coinome will be suspended, effective 2pm on May 15th, 2019. Customers are requested to withdraw all their crypto assets from Coinome at the earliest.
— Coinome (@CoinomeOfficial) May 9, 2019
It is still not known whether this is a permanent shut down or a temporary one. Coinome has also emailed their users stating that:
“As you are aware, India is currently going through uncertainty on crypto guidelines and regulations. The Government of India has not yet made a decision on the regulatory framework for crypto exchanges or wallets. Further, the Honourable Supreme Court of India is yet to act upon the PIL on regulations of crypto assets.
On account of this, we have decided to suspend all crypto markets on Coinome effective 2 pm on May 15th, 2019. Customers are expected to withdraw all their crypto assets from Coinome at the earliest, to avoid any future inconveniences.
Any further change based on regulation from the Government of India will be intimated over email.”
Coinome is backed by prominent Indian online payments gateway, Billdesk.
On April 26th we reported, that India might consider placing a ban on digital currencies
Uncertainty in the crypto atmosphere has massively impacted good projects, with major projects getting impacted:
- Indian Crypto Exchange Coindelta Shutters Services, Citing Adverse Regulatory Conditions
- India’s Foremost Crypto Exchange Unocoin Platform Fires Half its Staff, Blames Unfavorably Regulatory Conditions
- Indian Crypto Exchange Zebpay Shuts Down Exchange Due to Indian Bank Regulations
CEO of Indian Exchange WazirX, Nischal Shetty, is currently running a Twitter campaign #IndiaWantsCrypto to create awareness.