Unocoin, a major Indian crypto wallet provider and exchange, has suspended rupee (INR) deposits and withdrawals “as per orders” from the country’s central bank, according to Unocoin’s blog post July 23. Unocoin notified its customers that fiat deposits and withdrawals are “temporarily disabled” until “an alternative method of funding is identified and deployed.” Meanwhile, crypto asset deposits continue to be active on both Unocoin’s crypto-rupee trading platform and partner crypto-crypto exchange Unodax. Unocoin users can also continue to use their existing rupee balance to buy and sell Bitcoin (BTC) and Ethereum (ETH), and crypto-rupee and crypto-crypto pairs remain live on …

Co-founder of Ethereum (ETH) Vitalik Buterin criticized centralized exchanges, saying that he hopes they will “burn in hell,” in an interview with a TechCrunch journalist Jon Evans, July 6. Buterin has reiterated his positive stance on decentralization, claiming that by developing “better” decentralized platforms, the crypto community should be able to take away the “stupid King making power” from centralized crypto exchanges. “I definitely personally hope centralized exchanges burn in hell as much as possible.” The creator of Ethereum criticized centralized platforms for having the ability to decide which cryptocurrencies “become big.” According to Buterin, they do this by charging …

How does decentralized banking look? Decentralized banking is a term that has been construed in the wake of the cryptocurrency boom. That is because cryptocurrencies are the first intelligent asset that can create such a tool. And because of this, many are referring to decentralized banking as “crypto banking.” Cryptobanks are decentralized platforms that provide the usual services that centralized banks provide, primarily lending services and credit scoring, but essentially cuts out all of the middlemen that a centralized bank uses. The people needed in a bank to approve loans and structure financial data are replaced in a crypto banking …

Charly Clinton, the creator of BitXBay, a decentralized and anonymous Bitcoin marketplace, claims to have created the first open source, peer-to-peer online platform for trade. The first announcement of BitXBay was made in late-April on the BitcoinTalk forum, following on June 10 by the release of the alpha version with links to BitXBay binaries and sources on GitHub. BitXBay's marketplace operates through the Bitmessage network for privacy matters and all transactions occur in the form of escrow with multisignature addresses. Each transaction creates 3 multisignature addresses: one for the primary and two for the payment of insurance. BitMessage is a …