Zebpay, once the largest cryptocurrency exchange by volume in India, announced on Twitter that it will be shutting down their exchange.
"At 4pm today, we will cancel unexecuted orders & credit your coins to your Zebpay wallet. No new orders will be accepted."
In a blog post, Zebpay explains that the decision to halt trading was related to a ban that prohibited domestic banks from offering financial services to crypto exchanges. The ban was issued earlier this year by India's central bank. (Source: CoinDesk)