On April 6th, 2018, the Reserve Bank of India (RBI) announced that within three months entities registered with them should stop dealing with cryptocurrencies or companies that deal with cryptocurrencies.
This includes banks, mobile wallets, and domestic payment gateways. It was the first time the any government entity announced a rule that would affect cryptocurrency trading in India. There was no ban on trading Cryptocurrencies. Instead, not letting banks provide their services to exchanges heavily handicaps them because they will no longer be able to process fiat payments.
To prevent a complete shutdown of trading, Cryptocurrency exchanges have been rampantly adding crypto-to-crypto trading pairs which never existed a few months ago.
Just last week, Zebpay, India’s largest Cryptocurrency exchange announced six new crypto-to-crypto trading pairs. These include Ethereum, Bitcoin cash, and Ripple against BTC. Another popular exchange, Unocoin announced a new app where users would be able to trade popular cryptocurrencies against other cryptocurrencies.