America’s largest exchange suspended some payment services on its newly launched Indian exchange due to pressure from the local payment regulators.
The largest US-based crypto exchange Coinbase has stopped payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the South Asian subcontinent.The UPI is the payment portal governed by the National Payment Corporation of India (NPCI), which facilitates buy orders on Coinbase’s India services. The exchange has already updated its payment method information on its website for Indian users, which urges users to try Immediate Payment Service (IMP) to place sell orders.The NPCI is a special division of the Reserve Bank of India (RBI), under the Ministry of Finance.Financial news outlet Business Standard reported on April 11 that Coinbase stated that it would work to remedy the situation in India with the appropr
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