coinswitch kuber neft ban: Kodak Bank says bag to coinswitch kuber !! – kotak bank temporarily pause crypto trade activities with coinswitch kuber

Money transfers with cryptocurrency trading platforms were supported by only a few Indian financial institutions. One of them was Kodak Bank.

Kodak Bank has been licensing and supporting CoinSwitch Kuber’s money transfers. Kotak Bank, meanwhile, has stopped dealing with fees for trading with Coinswidth Cooper.

Sources close to the bank told the Economic Times (ET) that the suspension was not permanent but temporary.

It is unknown at this time what he will do after leaving the post.

The Reserve Bank of India has not issued any new directive to banks to stay away from cryptocurrencies. But a senior official said that some banks have been told by senior Reserve Bank of India (RBI) officials to be wary of cryptocurrencies until regulatory and legal clarity is available.

Kodak’s position would be a blow to the unregulated industry. MobiKwik, the digital wallet that follows the bank, has been linking crypto exchanges with crypto-related payments since early April.

MobiKwi was supportive of most crypto traders and the only payment option for multiple crypto transactions.

Mobiquick has closed the door to crypto business opportunities for almost all banks and industry by its suspension. Thus crypto users are in great trouble.