Yeah, you're right. RBI has imposed a number of restrictions over every crypto related activity in the nation. But the P2P exchanges don't violate any of those regulations as in all of them we just trade our currency to the currency we are willing to trade. Not only CoinDCX, a lot of more exchanges are also working similarly and that too not only in India but in countries that have bans upon crypto too such as Pakistan, Bangladesh etc.

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