Shiba Inu and Dogecoin Live on India's Major Crypto Exchanges
Shiba Inu making progress in India
Users can now trade Dogecoin against Indian Rupees. There is no fiat pair for the Shiba Inu: the coin can be traded against Tether, the number one USD-pegged stablecoin.
Founded in 2013, Unocoin is known as India's leading trading platform and is nicknamed "Indian Coinbase". In October, support was added for Unified Payment Interface (UPI) transactions. This allows users to deposit fiat on the platform significantly faster.
Shiba Inu has made significant progress with Indian exchanges over the past two months. In early October, ahead of the massive Shiba Inu rally, ZebPay, one of the country's oldest crypto trading platforms, added support for meme coins.
Last month, CoinDCX, a company worth more than $1 billion, integrated Shiba Inu into its app.
India's long awaited crypto law
India's much-discussed cryptocurrency law is about to be announced, according to local media reports. Haven't got the green light from the union cabinet yet.
Initially, it was thought that all private cryptocurrencies would be banned in India. However, the bill will reportedly aim to regulate asset classes rather than ban them. The Securities and Exchange Board of India will be responsible for overseeing digital assets.
The law includes severe penalties for those who violate the new rules. There is a fine of up to 200 million INR ($2.63 million) and 1.5 years in prison.
The CEO of Unocoin recently stated that there is still a lot of uncertainty surrounding digital assets:
“There is still uncertainty among potential users about using cryptocurrencies compared to real money.”
The CEO of Unocoin recently stated that there is still a lot of uncertainty surrounding digital assets:
“There is still uncertainty among potential users about using cryptocurrencies compared to real money.”