India’s leading cryptocurrency exchange has added support for Dogecoin and Shiba Inu.
Good news for DOGE and Shiba Inu investors!
There is good news for DOGE and SHIB investors. The company announced on Monday that the two largest meme coins, Dogecoin and Shiba Inu, are ready to be traded on the Indian exchange Unocoin. Exchange users can now trade Dogecoin against Indian rupees. For the Shiba Inu, however, there is no fiat pair: it can be traded against the second largest meme coin Tether. You can see the Dogecoin (DOGE) price and detailed market data here.
Founded in 2013, Unocoin is known as India’s leading BTC-INR trading platform and is nicknamed “India’s Coinbase”. In October, the exchange added support for Unified Payment Interface (UPI) transactions, making it possible for users to deposit fiat on the platform significantly faster. The Shiba Inu has made significant progress in the Indian stock markets over the past two months. Earlier in October, ahead of Shiba Inu’s big rally, ZebPay, one of the oldest crypto trading platforms in the country, added support for the meme coin. Last month, CoinDCX integrated the Shiba Inu into its retail-focused app.
India’s highly anticipated crypto regulations will be announced!
According to local media reports, India’s much-spoken cryptocurrency regulations will be made public soon. While it was originally thought to ban all private cryptocurrencies in India, the bill reportedly aims to regulate the nascent asset class rather than ban it. The Securities and Exchange Board of India will be responsible for overseeing digital assets. The legislation will include strict penalties with fines of up to INR 200 million ($2.63 million) and 1.5 years in prison for those who do not comply with the new crypto rules.