If one looks back at post-modern history, once every decade or so, there is a major disruption that upends the broad contours of our lives. At the turn of the millennium, the emergence of the internet as a mass medium led to the dotcom boom (and bust). In the last decade, applications built on the Internet and the mainstreaming of mobile phones has led to seismic changes in our lifestyles irrevocably changing the way we work, shop and play. If you fast-forward to today and look at the shortlist of major candidates that will impact our future lives, there is one candidate that will appear on most lists—blockchain and cryptocurrency (crypto for short).
Of Zebpay, regulatory arbitrage and policy scapegoating
Zebpay’s sudden decision to shut down its exchange surprised all in the crypto industry. The exchange puts the entire blame on the RBI directive which came out in April. But can regulatory hurdles alone be the reason behind this drastic step?
Zebpay’s decision to shut its exchange operations left many confused and shocked
The company blames the RBI for this move but it is far from the only reason
Despite regulatory hurdles, Zebpay was expected to stay afloat much longer due to its leadership position
Everyone feels that Zebpay threw in the towel too soon but no one is too sure why