Singapore-based crypto commutation Zebpay reportedly returns to the Indian market more than a yr after an Indian Reserve Bank crackdown led to the exchange'south closure in the country.

"We're committed to working with the Government of India and regulators to operate within the police force and also improve the laws regarding crypto," Zebpay CEO Rahul Pagidipati said in an e-mail to Cointelegraph, calculation:

"ZebPay was the pioneer in anti-coin laundering and security and so nosotros have a lot of information and experience to share. I'm a lawyer, licensed in the Florida (USA) bar, so plain I'm committed to helping create long-term policy that volition help India get the full benefits of blockchain."

After discontinuing Indian services in late 2022, Zebpay will open up its substitution for the land once once again, although the cardinal bank ruling that caused its demise has not changed, IBS intelligence wrote on Jan. 29, Citing "reports."

Shutdown in the face of regulation

In September 2022, Zebpay halted exchange availability in India after the Reserve Banking company of India, or RBI, forbade banks from serving crypto companies.

Although it closed operations in Bharat, Zebpay announced expansion to Commonwealth of australia in May 2022, showing the outfit was still alive and growing.

Comeback in spite of limitation

The RBI ban has not changed, but Zebpay has decided to open up its doors to Indian customers once over again anyway, according to IBS intelligence.

Surrounding the rebound, Zebpay has updated its visitor brass, including a new CFO and CMO. The outfit as well touts added features and crypto-based trading pairs. Additionally, the exchange expects to open an avenue for involvement in mutual funds, IBS wrote.

Equally Zebpay'south new CEO, Pagidipati appears ready to striking the ground running. "I'm going to practice whatsoever it takes to earn back the trust of all those loyal ZebPay members," he said via email. "We're chiliad% committed for the long-term to bringing the total benefits of blockchain and crypto to India," he added. "I'm 42 now and ZebPay volition be my life's work from now on."

The past several months have yielded numerous sessions in forepart of Bharat's Supreme Court on the RBI ban in an effort to gain clarity on the situation.

UPDATE Feb. iv, 21:48 UTC: This commodity has been updated with comments Cointelegraph received from Zebpay later initial publication.