Jul 8, 2018 at 13:42
Jul 8, 2018 at 13:42 UTC
Koinex: Accepting INR Withdrawal Request Until July 9
BTC Wires: Amid the highly volatile market of cryptocurrencies, the Indian ecosystem is severely affected by its judiciary. As per recent events, things have intensified quite a bit since the petition of the Internet and Mobile Association of India was declined at the nation’s apex court. It stirred the Indian ecosystem to an extent that the market suffered a major blow and trading individuals were shook deeply. After this, things finally went amuck when the nation’s biggest cryptocurrency exchange shut off its rupee withdrawal facility.
Things took a crucial turn on the early morning of July 7. This is when Koinex updated their Twitter with a sermon that gave more hope to all crypto enthusiasts in India. The tweet explained how Koinex users could submit requests for INR withdrawal till 2 PM on July 9. The tweet also said that after this time no INR withdrawal requests will be possible or be entertained.
In the second part of the tweet, Koinex also mentioned how the INR/crypto trading corridor may be discontinued over the next few days. However, after this announcement, Koinex also relieved its users by mentioning that post this development, users will be able to trade through the Koinex Loop and TrueUSD corridor, in order to maintain fiat stability. This has emerged as the most recent development in the ecosystem, now it’s to see how users benefit for this occurrence.