107.9FM NYJ/LA

Translate This Page

Coinbase Suspends Option To Buy Cryptos Like Bitcoin, Ethereum, Dogecoin In India A Day Into Launch

Posted by Navdeep Yadav on Tuesday, April 12, 2022 Under: 848FINACE


  

Days after its launch in the world's second-largest internet market, Coinbase Global, Inc. (NASDAQ: COIN) suspended the option to buy cryptocurrencies such as Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE), and Ethereum (CRYPTO: ETH)
 using UPI in India.

What Happened: This came after America's largest cryptocurrency exchange, while making its debut in India last week, said it was working on getting UPI (Unified Payment Interface) on its platform for all users. The development followed a statement from India's central bank subdivision that it was not aware of any cryptocurrency exchange using UPI payments instruments.

The Coinbase app shows that the users can sell via the Immediate Payment Service (IMPS) method; buying option is unavailable.

Coinbase spokesperson earlier, in response to the NPCI statement, said, "As we enter the Indian market, we are actively experimenting with a number of payment methods and partners to enable our customers to seamlessly make their cryptocurrency purchases. One of these methods is UPI, simple to use and rapid payment system."

Why It Matters: UPI has seen massive growth over the past few years and has become one of India's most popular modes of payment. In the financial year 2021-22, payments worth $1.09 trillion were processed through the UPI, according to the National Payments Corporation of India (NPCI) data.

This may have been the first time for Coinbase to experience such a hurdle but it is not new for Indian cryptocurrency exchanges widely, which have been facing regulatory hurdles from the Indian government over the years. The country's government has been firmly against the decision of cryptocurrency mining and trading and is looking to regulate the use of digital assets in India.

Price Action: According to data from Benzinga Pro, Bitcoin was trading flat at $42,122 in the last 24 hours, and Ethereum was trading at $3,168, down about a percent over the same period.

In : 848FINACE 


Tags: coinbase suspends option to buy cryptos like bitcoin  ethereum  dogecoin in india a day into launch 

Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic wa

PANERAI WATCH
LUMINOR / Ref. PAM76
44mm, Titanium
W525050
Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic watch
TRY IT ON
G&S Price: $22,000

SALE PRICE

$16,900 


    HOT 103.1 FM HOUSTON

    Fashion director finds. Everything our fashion office is obsessed with right now.

    Shop Janelles's finds

    Instagram



    Here’s $30 of BTC, on us.
    Get free $30 of BTC 
     by funding your Invstr+
    account
    with $100 or more.
    Fund account & claim $30 of BTC
    Need help? Contact us at
     
    supportplus@invstr.com



    Invest, spend, and earn 2.05% APY*–all through your brokerage account.
    Our goal at Robinhood is to democratize finance. This means delivering products that help you do more with your money and improve your life. Today, we're excited to introduce Cash Management, a new feature to give you more flexibility with your brokerage account.
    JOIN THE WAITLIST
    Flexible Spending
    Use your Robinhood debit card anywhere Mastercard® is accepted around the world.
     
    Earn 2.05% APY
    Your uninvested cash is moved to banks in our program that pay you 2.05% APY*. Like all variable rates, this could go up or down over time.
     
    FDIC Insurance
    Your cash in the program banks is eligible for up to $1.25 million of FDIC insurance, or up to $250,000 per bank, subject to FDIC rules.
     
    75,000+ ATMs
    Don't pay fees at any of the 75,000+ ATMs in our network.
    JOIN THE WAITLIST


    See the source image



    For the next two weeks, you can earn increasing levels of Stock-Back™ rewards when you shift your everyday spending to your Stash debit card.* 

    Every qualifying swipe over $5 gets you closer to leveling up your Stock-Back rewards. Levels start tomorrow and reset to zero on Monday, November 18.

    Follow Us

     

    Flag Counter


    Flag Counter

    Make a free website with Yola