So officially now Binance became the second International crypto exchange to become FIU complaint after Kucoin.
Do you see this as Good?
IMO this is going to affect who traded prior to the blanket ban now will be scared of tax authorities knocking their doors but kind of positive for upcoming new users which will give better experience than Indian exchanges mainly because more liquidity, more trading pairs,etc.
Do you see this as Good?
IMO this is going to affect who traded prior to the blanket ban now will be scared of tax authorities knocking their doors but kind of positive for upcoming new users which will give better experience than Indian exchanges mainly because more liquidity, more trading pairs,etc.
Unofficially the government has initiated the process of regulating exchanges which means crypto regulation has been initiated. Now it won't be easy for anyone to escape TDS like it used be earlier. Even though there are international exchanges that still are not FIU compliant but they don't have the kind of volume like Binance has for now.
I doubt this is going to affect anyone who had traded prior because Binance accepted to follow the law from yesterday onwards before that they were not. But, no one knows what kind of aggreement they have signed with the government of India as the fine looks very less.
