Shadow Ban on Crypto Exchanges | Bitcointalksearch.org

Bureau

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Quote from: Bitcoin Smith on March 01, 2024, 04:33:56 PM

Quote from: pakhitheboss on March 01, 2024, 07:42:46 AM

If the government has removed the ban then it is a positive sign. I did try accessing Binance with my Jio mobile connection and it failed. It is either a glitch with the Airtel network or I need to check again tomorrow. I will let you know about it as soon as I find out that I can access these URLs with my Jio mobile connection.

I am not using Binance or any other exchange but whenever I tried after they announced the ban I can access the URL with no issues at all and that too from Jio and Airtel mobile network connections.

ISP not yet blocks the URLs all over the country if I am not wrong but sooner or later it will stop working.

After the news was out of the URL ban I did try accessing binance but failed using my Airtel mobile connection. It did give me a blank page and from that time I have been using the Binance.me URL to log in to my account. Yesterday I saw a couple of posts on Reddit where users were again able to access binance using the .com URL and therefore I checked and it was working for me. Not sure why Jio allowed the access they are known to follow government directives instantly. Whatever the case was or is I am happy that it is working for me now.

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Quote from: pakhitheboss on March 01, 2024, 07:42:46 AM

If the government has removed the ban then it is a positive sign. I did try accessing Binance with my Jio mobile connection and it failed. It is either a glitch with the Airtel network or I need to check again tomorrow. I will let you know about it as soon as I find out that I can access these URLs with my Jio mobile connection.

I am not using Binance or any other exchange but whenever I tried after they announced the ban I can access the URL with no issues at all and that too from Jio and Airtel mobile network connections.

ISP not yet blocks the URLs all over the country if I am not wrong but sooner or later it will stop working.

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Quote from: Bureau on March 01, 2024, 04:10:46 AM

Just an FYI to everyone around here. Please check whether you guys are able to open up any of those banned exchanges. I am able to open binance.com using my Airtel mobile connection. I was also able to open mexc global and OKX exchange. I am not sure but I think the url ban has been removed. I tried searching these exchanges on the Play Store but failed to find the apps.

With my local broadband, I was able to access those exchange URLs while you guys were struggling. Not sorry for you guys as in India things are pretty different in different states. I am an Airtel Black customer and I have the option to use their DTH and wifi for free. I still preferred my local broadband which I have been using for about 5 years now with a speed of only 50Mbps as I knew some shit will happen with cryptocurrencies in India in the future.

If the government has removed the ban then it is a positive sign. I did try accessing Binance with my Jio mobile connection and it failed. It is either a glitch with the Airtel network or I need to check again tomorrow. I will let you know about it as soon as I find out that I can access these URLs with my Jio mobile connection.

Bureau

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Just an FYI to everyone around here. Please check whether you guys are able to open up any of those banned exchanges. I am able to open binance.com using my Airtel mobile connection. I was also able to open mexc global and OKX exchange. I am not sure but I think the url ban has been removed. I tried searching these exchanges on the Play Store but failed to find the apps.

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Quote from: Bitcoin Smith on January 20, 2024, 10:44:03 AM

Quote from: pakhitheboss on January 20, 2024, 08:55:17 AM

Another question that comes to my mind is why will other exchanges accept AML policy. The simple reason is that the owners of these exchanges except Binance have been anonymous. No one knows where these exchanges are located as they don't have any physical presence. Binance will only co-operate as it has one of the biggest user bases in India. So, I am only expecting the Binance to agree to all terms and conditions of the government of India.

Most exchange has their headquarters and their CEOs are known to the public but they are obviously operating from region where crypto-friendly policies are available for their benefits. Now every government is sqeezing them to accept their regulation policies or just leave the premises which is not really new and it's something initiated by US and still followed by US.

No business will look to skip India because we are the highest populated country in the world and it's really freemarket unlike China so I guess every exchange will try to comply the regulations to increase their business.

Almost every popular exchange having Indian customers are having their headquarters in some country. None of them are anonymous.
As for the AML policies, if the exchange has a huge Indian user base then they don't have an option other than to accept the policies.

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Well I dont understand that either too.

I'm a regular Binance user and I'm really disappointed about the news.

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Quote from: pakhitheboss on January 20, 2024, 08:55:17 AM

Another question that comes to my mind is why will other exchanges accept AML policy. The simple reason is that the owners of these exchanges except Binance have been anonymous. No one knows where these exchanges are located as they don't have any physical presence. Binance will only co-operate as it has one of the biggest user bases in India. So, I am only expecting the Binance to agree to all terms and conditions of the government of India.

Most exchange has their headquarters and their CEOs are known to the public but they are obviously operating from region where crypto-friendly policies are available for their benefits. Now every government is sqeezing them to accept their regulation policies or just leave the premises which is not really new and it's something initiated by US and still followed by US.

No business will look to skip India because we are the highest populated country in the world and it's really freemarket unlike China so I guess every exchange will try to comply the regulations to increase their business.

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Quote from: pawanjain on January 20, 2024, 07:59:43 AM

Quote from: Bitcoin Smith on January 19, 2024, 05:02:32 PM

Indian exchanges are behind this URL ban? That is a new info.

Yes, didn't you know that local exchanges complained to the regulators that while they are following the AML policies and regulation the international exchanges are keeping away with it.
This is the reason why international exchanges were said to follow the AML policies and otherwise face a shadow ban.
This is why Binance is now forced to accept the AML policies by Indian government.

Yeah, you are right these local exchanges are the reason why we are in this situation. What I don't understand is rather doing such a shit show the government could have incentivized or these local exchanges could have offered some incentives for getting users back. The approach that they have taken now will be temporarily accepted. In the long run, the local exchanges would lose their customer base as many users would now leave this industry. They dug their own grave trying to get back their lost volume and so will the government lose their tax collection. I mean who would try to trade on local exchanges when already their fees are high compared to international exchange and with 1% TDS it makes it more difficult. Those who will continue are the ones who don't have any other choice but to continue.

Another question that comes to my mind is why will other exchanges accept AML policy. The simple reason is that the owners of these exchanges except Binance have been anonymous. No one knows where these exchanges are located as they don't have any physical presence. Binance will only co-operate as it has one of the biggest user bases in India. So, I am only expecting the Binance to agree to all terms and conditions of the government of India.

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Quote from: Bitcoin Smith on January 19, 2024, 05:02:32 PM

Indian exchanges are behind this URL ban? That is a new info.

Yes, didn't you know that local exchanges complained to the regulators that while they are following the AML policies and regulation the international exchanges are keeping away with it.
This is the reason why international exchanges were said to follow the AML policies and otherwise face a shadow ban.
This is why Binance is now forced to accept the AML policies by Indian government.

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Quote from: pawanjain on January 19, 2024, 12:42:48 PM

I am not sure about luring customers to WazirX but I was myself one of the early users of WazirX.
I had even got the free airdrop from which I didn't even knew. It was just there lying in my wallet.
Later I saw the price of WRX and started withdrawing it. Got a nice stash around 15k INR Grin

Same here too, I had the habit of converting the dust balance of my coins to WRX and one day the price boomed like 100x? I don't really remember but that is the last day I ever held WRX and I didn't hesitate to cash out the profit which is like 10K if I am right.

Indian exchanges are behind this URL ban? That is a new info.

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Quote from: Bitcoin Smith on January 18, 2024, 02:18:33 PM

Quote from: pawanjain on January 18, 2024, 10:49:40 AM

You're right when you say that only Binance has shown some signs of working towards the solution because we haven't received any news from other exchanges yet.
India has the most number of crypto users from the world and Binance is currently the largest exchange and so it the chances are high that Binance would be having the largest crypto user base from India.
It would not want to lose that user base and that is the reason why it is working with the regulators for clearing the AML policies.

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

Yes Binance would never want to lose it's huge user base in India but there are multiple challenges which Binance is currently facing as it has to convince or furnish a solution by working with the regulators and local Indian exchanges like CoinDCX, WazirX and CoinSwitch, etc are one of the worst exchanges who has been sucking money out of people in the name of maker and taker fee which are 5 times more than any international exchange and they are lifting balls of regulator since Indian users will be forced to use these exchanges.

Hope Binance cuts a deal and this is sorted because no one can sustain such high TDS and tax if forced to use Indian Exchanges.

pawanjain

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Quote from: pakhitheboss on January 19, 2024, 07:43:09 AM

Quote from: Bitcoin Smith on January 18, 2024, 02:18:33 PM

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

I remember this event as it came in the mainstream media and they as in Binance did pay a good amount for acquiring WazirX. There have been too many controversies associated with WazirX from the beginning as I remember they lured new customers by promising free WRX airdrop in the initial days. Then after they got a good response they retracted and said they would give a discount on the trading fee. The whole idea and the inception of this exchange is full of controversies and thankfully I was not part of it. BTW, they and CoinDCX are the reason why the government of India initiated an AML policy against the International exchanges. They had formed a consortium and met with a few MPs before the last parliament session asking them to ask the government why international exchanges are not following the AML policy and why they are not charging TDS.

I am not sure about luring customers to WazirX but I was myself one of the early users of WazirX.
I had even got the free airdrop from which I didn't even knew. It was just there lying in my wallet.
Later I saw the price of WRX and started withdrawing it. Got a nice stash around 15k INR Grin

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Quote from: Bitcoin Smith on January 18, 2024, 02:18:33 PM

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

I remember this event as it came in the mainstream media and they as in Binance did pay a good amount for acquiring WazirX. There have been too many controversies associated with WazirX from the beginning as I remember they lured new customers by promising free WRX airdrop in the initial days. Then after they got a good response they retracted and said they would give a discount on the trading fee. The whole idea and the inception of this exchange is full of controversies and thankfully I was not part of it. BTW, they and CoinDCX are the reason why the government of India initiated an AML policy against the International exchanges. They had formed a consortium and met with a few MPs before the last parliament session asking them to ask the government why international exchanges are not following the AML policy and why they are not charging TDS.

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Quote from: pawanjain on January 18, 2024, 10:49:40 AM

You're right when you say that only Binance has shown some signs of working towards the solution because we haven't received any news from other exchanges yet.
India has the most number of crypto users from the world and Binance is currently the largest exchange and so it the chances are high that Binance would be having the largest crypto user base from India.
It would not want to lose that user base and that is the reason why it is working with the regulators for clearing the AML policies.

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

pawanjain

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Quote from: pakhitheboss on January 18, 2024, 08:29:39 AM

Quote from: Bureau on January 18, 2024, 03:44:50 AM

Quote from: pawanjain on January 17, 2024, 11:08:47 AM

snip..

I haven't opened the app before but after reading the replies on this thread I did open it and got the same information. So, it is clear now that Binance.me is meant for the Indian community until they resolve the issue with the government. I still have a feeling that Binance wont agree with the government on the topic of AML and would continue in the same manner. Any news about other exchanges that have been banned by the Indian government?

So, after reading both of your replies I feel that I did not do anything wrong. After asking my question I went ahead and checked a few Indian subreddits and there I did find someone asking the same question. Coming back to your reply @Bureau I am also clueless as to what other exchanges are doing after the URL ban. Till now most of us can access their apps on our mobile phones and I guess unless they stop working these exchanges other than Binance won't come out with a solution. I think only Binance has the biggest Indian user base and all other exchanges have fewer Indian users. They are not bothered with new Indian registration as they know the situation in India is not that positive for new users to invest in cryptocurrency or Bitcoin. I am only waiting to see what happens when Bitcoin bull runs start and it creates a new ATH.

You're right when you say that only Binance has shown some signs of working towards the solution because we haven't received any news from other exchanges yet.
India has the most number of crypto users from the world and Binance is currently the largest exchange and so it the chances are high that Binance would be having the largest crypto user base from India.
It would not want to lose that user base and that is the reason why it is working with the regulators for clearing the AML policies.

@Bureau Binance has already announced that they are working with the regulators for clearing the AML policies and so Binance.me looks more like a temporary solution for the time being.

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Quote from: Bureau on January 18, 2024, 03:44:50 AM

Quote from: pawanjain on January 17, 2024, 11:08:47 AM

snip..

I haven't opened the app before but after reading the replies on this thread I did open it and got the same information. So, it is clear now that Binance.me is meant for the Indian community until they resolve the issue with the government. I still have a feeling that Binance wont agree with the government on the topic of AML and would continue in the same manner. Any news about other exchanges that have been banned by the Indian government?

So, after reading both of your replies I feel that I did not do anything wrong. After asking my question I went ahead and checked a few Indian subreddits and there I did find someone asking the same question. Coming back to your reply @Bureau I am also clueless as to what other exchanges are doing after the URL ban. Till now most of us can access their apps on our mobile phones and I guess unless they stop working these exchanges other than Binance won't come out with a solution. I think only Binance has the biggest Indian user base and all other exchanges have fewer Indian users. They are not bothered with new Indian registration as they know the situation in India is not that positive for new users to invest in cryptocurrency or Bitcoin. I am only waiting to see what happens when Bitcoin bull runs start and it creates a new ATH.

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Quote from: pawanjain on January 17, 2024, 11:08:47 AM

Quote from: pakhitheboss on January 17, 2024, 07:01:26 AM

Got the following message when I opened the Binance app today.
~snip

When I clicked on update it took me to Binance.me and asked me to download the updated apk file. Now, it is confirmed that those domain names were created for the Indian community in case if the situation gets bitter with the Indian government. Anyone here experienced the same thing like I did today. I mean did you guys get the same update message and were to directed to any of the domain name as informed by pawanjain in his reply.

Hey Yes !

After reading your post I had just opened my binance app and got the same notification and a button to update the app.
Upon clicking the button it took me to binance.me domain and a popup was displayed to download an apk file.

I haven't opened the app before but after reading the replies on this thread I did open it and got the same information. So, it is clear now that Binance.me is meant for the Indian community until they resolve the issue with the government. I still have a feeling that Binance wont agree with the government on the topic of AML and would continue in the same manner. Any news about other exchanges that have been banned by the Indian government?

pawanjain

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Quote from: pakhitheboss on January 17, 2024, 07:01:26 AM

Got the following message when I opened the Binance app today.
~snip

When I clicked on update it took me to Binance.me and asked me to download the updated apk file. Now, it is confirmed that those domain names were created for the Indian community in case if the situation gets bitter with the Indian government. Anyone here experienced the same thing like I did today. I mean did you guys get the same update message and were to directed to any of the domain name as informed by pawanjain in his reply.

Hey Yes !

After reading your post I had just opened my binance app and got the same notification and a button to update the app.
Upon clicking the button it took me to binance.me domain and a popup was displayed to download an apk file.

pakhitheboss

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Got the following message when I opened the Binance app today.

When I clicked on update it took me to Binance.me and asked me to download the updated apk file. Now, it is confirmed that those domain names were created for the Indian community in case if the situation gets bitter with the Indian government. Anyone here experienced the same thing like I did today. I mean did you guys get the same update message and were to directed to any of the domain name as informed by pawanjain in his reply.

libert19

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^ If it is mere TDS people want to save themselves off, they can use Colodax which has 0 TDS on selling since more than a year, that is if they are comfortable with selling prices there cause Colodax has huge spread between buy and sell price.

Read: https://colodax.freshdesk.com/support/solutions/articles/47001229074-ganesh-chaturthi-offer (it says Ganesh Chaturthi offer but they have extended it for indefinite amount of time).

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