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Paytm stops cryptocurrency transactions from today after banks cut exchanges like WazirX: Report Moneycontrol 1 hour ago © Smriti Chaudhary Paytm stops cryptocurrency transactions from today after banks cut exchanges like WazirX: Report
The Paytm Payments Bank will disallow cryptocurrency transactions on its platform from May 21 evening as it “will stop dealing with cryptocurrency exchanges”, sources told The Economic Times.
This comes after banks on May 20 said that they would no longer deal with crypto exchanges such as WazirX, BuyUCoin and Zebpay following an “informal” Reserve Bank of India (RBI) order to that effect.
Other payment platforms such as PayPal and Venmo (currently only available in the United States) may also soon follow suit, industry sources added.
Crypto punters vent online over WazirX payment snag
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ETtech
Illustration: Rahul Awasthi
Since Saturday morning many traders could not place bets on India s largest crypto-currency exchange WazirX as they were unable to transfer funds to the bourse.
Annoyed punters took to social media and reached out to the exchange, WazirX which said that the delay in accepting funds was due to a network issue at our banking partner s end. It promised that the money that was debited from traders accounts would be credited back ASAP. Your funds are safe, assured the exchange.
A number of traders in India were keen to build new positions in the run up to Tesla chief and crypto supporter Elon Musk s appearance on Saturday Night Live (SNL) a sketch comedy show on US television. But, in a way it was a blessing in disguise. Traders everywhere had felt that Musk would talk up Dogecoin (one of the hottest crypto-currencies). In hindsight, a number of them were shielded