Indian Crypto Exchange Unocoin Adds Support for Meme Coins
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Indian cryptocurrency exchange Unocoin has added support for "meme" cryptocurrencies like dogecoin (DOGE) and shiba inu (SHIB), iHodl Russia has learned. The platform's users can now exchange DOGE for the Indian rupee, while SHIB is traded in a pair with the USDT stablecoin, the price of which is pegged to the US dollar.

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The exchange also launched a contest to win 10,000 INR worth of bitcoin (EXANTE: Bitcoin). According to the exchange's tweet, the contest will last December 19, 23:59 IST. To win the prize, users should trade DOGE or SHIB. The results will be announced on December 22.

India Will Regulate Cryptocurrencies Instead of Banning Them: Report

Unocoin was founded in 2013 and is considered the leading cryptocurrency exchange in India. The platform is also referred to as "Indian Coinbase." In October, the exchange added support for UPI transactions, which allows users to deposit fiat funds more quickly.

As iHodl earlier reported, India's citizens will be required to disclose information about their cryptocurrencies and transfer them to the platforms regulated by the country's Securities and Exchange Board (SEBI). According to local media, non-custodial wallets could reportedly be banned as a result of the authorities' fight against money laundering and terrorism financing.

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