For the past couple of years, the Indian soil had taken the shape of a battlefield where the two forces fought with each other. The first force was the cryptocurrency community while the other force was the Reserve Bank of India (RBI).
Both forces took each other on with aim of proving their prowess to the other. On one side, it was the Reserve Bank of India that was trying its best to take down the cryptocurrency sector in the country. The regulatory authority exerted full force in order to get cryptocurrencies banned in the country.
On the other hand, the cryptocurrency community tried its best to dispute with the regulator over its perception of the cryptocurrency industry. The cryptocurrency industry wanted to prove its worth and potential to the government and the authorities in the country.
Finally, after two years of dispute, things have started turning in the cryptocurrency industry’s favor. Although the situation of the cryptocurrency sector in the country is still not clear, yet it has been confirmed by the government that it won’t be banned.
In the light of the above, several cryptocurrency exchanges have started opening up their businesses in the country. Several local cryptocurrency exchanges have also been formed in India, aiming to provide international-level services to the locals.
Then there are international cryptocurrency exchanges from around the world that have also started investing in the Indian crypto-industry.
Just recently, a cryptocurrency exchange from the United States has shared good news for the cryptocurrency community in India. The cryptocurrency exchange “CrossTower”, which is based in the United States, has announced that it is expanding its services, bringing them to India.
Like other foreign cryptocurrency exchanges, CrossTower has also decided to launch its operations in India despite the legal uncertainties. Although the feud between the RBI and the cryptocurrency community is still ongoing, it has not stopped the crypto-firms to expand their services to India.
In order to gain worldwide domination for the cryptocurrency sector, India is one of the most crucial countries. With the second-largest population in the world and soon to become the country with the largest population, the crypto-sector expects huge gains from the particular country.
CrossTower has recently announced that it has launched its local division for Indian cryptocurrency enthusiasts. The exchange has announced that it has just launched its own trading platform for cryptocurrencies in India. This is to ensure that the exchange is able to build a large user base from the particular country.
In the past couple of years, the cryptocurrency community in India has crossed the 20 million mark. This means that the community is constantly growing as the people in India want to benefit from it as much as they can.