One of the <a href="https://www.cryptoknowmics.com/news/crypto-trading-exchanges-in-india/" target="_blank" rel="noopener">biggest crypto exchange in India</a>, Zebpay, has <a href="https://www.prnewswire.com/news-releases/zebpay-expands-chainalysis-relationship-in-india-301067361.html" target="_blank" rel="noopener">collaborated</a> with Chainalysis which provides a compliance software for monitoring the crypto transaction in a real-time, according to an announcement on May 29.
<h2>Chainalysis Will Provide KYT</h2>
The New York-based blockchain analysis company helps the crypto exchanges in differentiating between the suspicious pattern in real-time and after that, they could get the information related to the law enforcement.

The self-proclaimed leading provider of AML software for Bitcoin would also provide KYC solution which will popularly be known as KYT (Know Your Transaction).

While making an announcement, Chainalysis notified, “While there are still steps that need to be taken to strengthen cryptocurrency regulation in India, exchanges like ZebPay that implement robust compliance and investigative software will be well-equipped for future developments”.
<h2>Uncertain Regulation For Crypto Exchanges</h2>
Back in the year 2018, the RBI restricted the banks in dealing with crypto exchanges, because of that, a few months later Zebpay closed its Indian exchange operations.

This year, as the Supreme Court of India, declared the banking ban unconstitutional, Zebpay returned to India. After it left India, Zebpay established its operations overseas in Europe and Australia.

Zebpay has returned to India at that when the Indian crypto exchanges are at the underdeveloped stage and that’s because of the uncertainty in the regulations.

Currently, many of the Indian exchanges are making an attempt to survive this uncertain phase, therefore, they are seeking options like crypto-to-crypto, P2P and derivatives products.

It is to be noted that the government and the RBI have completely banned the use of cryptocurrencies but they did not order to restrict the use of P2P transaction.

On one hand, the central bank of India has ordered the banks to not to deal in virtual currencies and on the other hand, the government of India is also preparing a law which would suggest a jail sentence for the crypto users.

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Zebpay Announces Partnership With Blockchain Analytics Firm Chainalysis

Zebpay, has collaborated with Chainalysis which provides a compliance software for monitoring the crypto transaction in a real-time.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Zebpay Announces Partnership With Blockchain Analytics Firm Chainalysis

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