Shadow Ban on Crypto Exchanges | Bitcointalksearch.org

Bureau

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Quote from: Bitcoin Smith on March 01, 2024, 03:33:56 PM

Quote from: pakhitheboss on March 01, 2024, 06:42:46 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, 06:42:46 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, 03:10:46 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, 09:44:03 AM

Quote from: pakhitheboss on January 20, 2024, 07:55:17 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, 07:55:17 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, 06:59:43 AM

Quote from: Bitcoin Smith on January 19, 2024, 04:02:32 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, 04:02:32 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, 11:42:48 AM

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, 01:18:33 PM

Quote from: pawanjain on January 18, 2024, 09:49:40 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.

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Quote from: pakhitheboss on January 19, 2024, 06:43:09 AM

Quote from: Bitcoin Smith on January 18, 2024, 01:18:33 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, 01:18:33 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, 09:49:40 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.

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Quote from: pakhitheboss on January 18, 2024, 07:29:39 AM

Quote from: Bureau on January 18, 2024, 02:44:50 AM

Quote from: pawanjain on January 17, 2024, 10:08:47 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, 02:44:50 AM

Quote from: pawanjain on January 17, 2024, 10:08:47 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, 10:08:47 AM

Quote from: pakhitheboss on January 17, 2024, 06:01:26 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?

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Quote from: pakhitheboss on January 17, 2024, 06:01:26 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.

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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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Quote from: Bureau on January 16, 2024, 02:40:17 AM

Quote from: pawanjain on January 15, 2024, 12:08:11 PM

I guess binance has heard your suggestion because from the "rumors" I have heard it looks like binance has launched 2 new domains.
Although we haven't received any official update from Binance yet but I have tried the URLs and came to know that we can access those domains.
But I won't recommend using them yet since Binance hasn't officially announced it yet.

The URLs are:
https://www.binance.me/en
https://www.binance.info/en

Do not login or create accounts on these domain yet as we haven't received the official announcement yet.
Keep your funds SAFU.

There isn't any official confirmation by Binance. I doubt they will make it official otherwise the government would again place a ban on these two urls immediately. When you enter these two url on Binance verify they come up as authentic url of Binance. Today in the morning I got a notification from Binance app to update it. I clicked on okay and it got redirected to binance domain which was asking me to download the new apk file but I didn't as I was not sure. Later on I check the version and it was the same as on my device. I think they are testing the apk link.

LOL! It was just a joke and they took it seriously. I never expected them to work on my joke and come up with new URLs. They have already mentioned that anyone caught using VPNs would be banned. This might be a temporary solution while they discuss it with the government of India. I don't think they are planning to run those urls permanently. If they do then I am confident they would have a surplus of Indian users signing up from India to only save TDS. It is the primary reason why the Indian crypto community shifted to international exchanges like Binance.

Next, I am expecting a few more exchanges that have KYC mandatory to come up with the same solution. Most of them are exact copycats of Binance from the day these exchanges came into existence. For example, Kucoin, Huobi, and OKX, all three follow what Binance does whenever there is a sudden change in their policy or if it is related to the listing of new coins.

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Quote from: pawanjain on January 15, 2024, 12:08:11 PM

I guess binance has heard your suggestion because from the "rumors" I have heard it looks like binance has launched 2 new domains.
Although we haven't received any official update from Binance yet but I have tried the URLs and came to know that we can access those domains.
But I won't recommend using them yet since Binance hasn't officially announced it yet.

The URLs are:
https://www.binance.me/en
https://www.binance.info/en

Do not login or create accounts on these domain yet as we haven't received the official announcement yet.
Keep your funds SAFU.

There isn't any official confirmation by Binance. I doubt they will make it official otherwise the government would again place a ban on these two urls immediately. When you enter these two url on Binance verify they come up as authentic url of Binance. Today in the morning I got a notification from Binance app to update it. I clicked on okay and it got redirected to binance domain which was asking me to download the new apk file but I didn't as I was not sure. Later on I check the version and it was the same as on my device. I think they are testing the apk link.

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Quote from: pakhitheboss on January 14, 2024, 05:40:13 AM

Quote from: libert19 on January 13, 2024, 10:30:05 AM

Quote from: pakhitheboss on January 13, 2024, 07:44:09 AM

No one reports it in our city we still can access some of the big names in the porn industry. I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

This was good one Cheesy

Hoping one of the Binance or other exchange executives takes my suggestion seriously and implements a special extension with Binance for the Indian community to access their platform without any interruption.

I guess binance has heard your suggestion because from the "rumors" I have heard it looks like binance has launched 2 new domains.
Although we haven't received any official update from Binance yet but I have tried the URLs and came to know that we can access those domains.
But I won't recommend using them yet since Binance hasn't officially announced it yet.

The URLs are:
https://www.binance.me/en
https://www.binance.info/en

Do not login or create accounts on these domain yet as we haven't received the official announcement yet.
Keep your funds SAFU.

pawanjain

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Quote from: TheUltraElite on January 14, 2024, 03:43:27 AM

Quote from: pakhitheboss on January 13, 2024, 07:44:09 AM

I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

It is possible if they do not feel to comply with the government regulations.

I see you are man of culture there, kemosabe Cheesy

Hentai ?

Quote from: pakhitheboss on January 14, 2024, 05:40:13 AM

Hoping one of the Binance or other exchange executives takes my suggestion seriously and implements a special extension with Binance for the Indian community to access their platform without any interruption.

They won't have to get a new domain since they have already announced that they are working towards complying with the AML regulation.
So we will be able to access the binance website soon and get back the apps on app store and play store.

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Quote from: libert19 on January 13, 2024, 10:30:05 AM

Quote from: pakhitheboss on January 13, 2024, 07:44:09 AM

No one reports it in our city we still can access some of the big names in the porn industry. I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

This was good one Cheesy

Hoping one of the Binance or other exchange executives takes my suggestion seriously and implements a special extension with Binance for the Indian community to access their platform without any interruption.

Quote from: TheUltraElite on January 14, 2024, 03:43:27 AM

However I tried using the URL to access through an Airtel broadband and Jio broadband, both of which showed timeout - they are blocked by ISP it seems.

Situation is getting grim for those using these international exchanges and we are yet to hear from the government regarding any official ban news. For now, I guess using them needs off-play store sources - which increases the risks too.

It was already F**KED UP and it is going to be ROYALLY F**KED UP, all thanks to the Indian government and their negative approach towards cryptocurrency. The policy is simple when you do not understand the technology do not bother to work around it. Work around a way to ban it with zero approach;D that was always the Indian way of finding a solution.

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So anyway, I applied as a merit source :)

Quote from: pakhitheboss on January 13, 2024, 07:44:09 AM

I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

It is possible if they do not feel to comply with the government regulations.

I see you are man of culture there, kemosabe Cheesy

However I tried using the URL to access through an Airtel broadband and Jio broadband, both of which showed timeout - they are blocked by ISP it seems.

Situation is getting grim for those using these international exchanges and we are yet to hear from the government regarding any official ban news. For now, I guess using them needs off-play store sources - which increases the risks too.

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Quote from: cabron on January 13, 2024, 12:50:10 PM

Quote from: pawanjain on January 13, 2024, 08:19:41 AM

Update 3:

Binance is removed from google play store as well. Shit is getting real !!!
Lets just hope Binance complies with the regulatory policies sooner.

The users who have already downloaded and used the Binance app on mobile will have no problem accessing their account according to the post above. This will not cause a big disturbance yet I hope everyone had their apps too. Anyone who has been using Binance but hasn't tried their mobile app is really going to miss their chance.

Not really, you can still directly download apk through apk downloader sites, there are play store alternatives you can use such as aptoide.

On a note, I can still find Binance app on play store when went through Google search (rather than searching on play store), this doesn't work with other exchange apps, only with Binance.

Quote

If they don't comply then Indian users will be forced to use the WazirX if there is no other choice. They will comply unless this is planned and the new CEO is to take the blame.

Coindcx, wazirx, mudrex, colodax, coinswitch — these are ones I'm aware of. What I mean is there are more exchanges than wazirx.

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Quote from: pawanjain on January 13, 2024, 08:19:41 AM

Update 3:

Binance is removed from google play store as well. Shit is getting real !!!
Lets just hope Binance complies with the regulatory policies sooner.

The users who have already downloaded and used the Binance app on mobile will have no problem accessing their account according to the post above. This will not cause a big disturbance yet I hope everyone had their apps too. Anyone who has been using Binance but hasn't tried their mobile app is really going to miss their chance.

If they don't comply then Indian users will be forced to use the WazirX if there is no other choice. They will comply unless this is planned and the new CEO is to take the blame.

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Quote from: pawanjain on January 12, 2024, 01:27:01 PM

Update 2:

The government has banned the URLs for binance, kucoin and other exchanges.
It was a shocker for me since the government acted quickly on this matter. I thought they will take some good amount of time before banning the URLs.
But just 2 days back they banned the app from app store and now they banned the URLs.
We are still able to access the URLs using VPN though.

Government may not be really interested in the crypto at the moment but possible the RBI is behind this push because we know they don't like crypto existence and also recently we had seen they are pushing people to use erupee CBDC and they know crypto existence will be a barrier to convince the general people so now they will advertise their CBDC as government crypto. Cheesy

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Quote from: pakhitheboss on January 13, 2024, 07:44:09 AM

No one reports it in our city we still can access some of the big names in the porn industry. I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

This was good one Cheesy

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Quote from: pakhitheboss on January 13, 2024, 07:44:09 AM

Quote from: libert19 on January 13, 2024, 12:40:22 AM

Quote from: pawanjain on January 12, 2024, 01:27:01 PM

Update 2:

The government has banned the URLs for binance, kucoin and other exchanges.
It was a shocker for me since the government acted quickly on this matter. I thought they will take some good amount of time before banning the URLs.
But just 2 days back they banned the app from app store and now they banned the URLs.
We are still able to access the URLs using VPN though.

Yep, Binance, Kucoin, Mexc, Kraken, Huobi — none of these work today.

Quote from: Bureau on January 12, 2024, 11:55:10 PM

I then checked for Kucoin and OKX and both website are appearing. I don't think that my ISP won't work on the ban request by the government. I did check Google Play Store and those apps are showing up. Are you sure that the urls are blocked?

Surely blocked on Jio and from Twitter I gather same case with airtel, what ISP are you using? Exchange apps were removed from apple's app store, not from Google play (at least not yet).

They are only blocked by JIO but not by Airtel as I did check it before replying to the post. I am also using a local broadband service and generally, they do not block anything Grin

in as per the directive of the government immediately. They would take their own time to block these URLs which I am sure would be a month or three.
No one reports it in our city we still can access some of the big names in the porn industry. I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

It is possible if they do not feel to comply with the government regulations.

Yes, those are blocked by Jio currently and am not sure about Airtel yet. People who are using wifi are able to access the site since they don't block IPs very soon.
Besides that, we don't need to worry about the situation because Binance is already aware of the situation.
We have even received an email from Binance saying they are actively working with the regulators to comply with the AML policies.
So the IP ban will be removed soon and people will able to access Binance soon. It's just a matter about time.

Update 3:

Binance is removed from google play store as well. Shit is getting real !!!
Lets just hope Binance complies with the regulatory policies sooner.

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Quote from: libert19 on January 13, 2024, 12:40:22 AM

Quote from: pawanjain on January 12, 2024, 01:27:01 PM

Update 2:

The government has banned the URLs for binance, kucoin and other exchanges.
It was a shocker for me since the government acted quickly on this matter. I thought they will take some good amount of time before banning the URLs.
But just 2 days back they banned the app from app store and now they banned the URLs.
We are still able to access the URLs using VPN though.

Yep, Binance, Kucoin, Mexc, Kraken, Huobi — none of these work today.

Quote from: Bureau on January 12, 2024, 11:55:10 PM

I then checked for Kucoin and OKX and both website are appearing. I don't think that my ISP won't work on the ban request by the government. I did check Google Play Store and those apps are showing up. Are you sure that the urls are blocked?

Surely blocked on Jio and from Twitter I gather same case with airtel, what ISP are you using? Exchange apps were removed from apple's app store, not from Google play (at least not yet).

They are only blocked by JIO but not by Airtel as I did check it before replying to the post. I am also using a local broadband service and generally, they do not block anything Grin

in as per the directive of the government immediately. They would take their own time to block these URLs which I am sure would be a month or three.
No one reports it in our city we still can access some of the big names in the porn industry. I was wondering if Binance plans to change it URL from Binance.com to Binance.desi Huh

It is possible if they do not feel to comply with the government regulations.

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Quote from: pawanjain on January 12, 2024, 01:27:01 PM

Update 2:

The government has banned the URLs for binance, kucoin and other exchanges.
It was a shocker for me since the government acted quickly on this matter. I thought they will take some good amount of time before banning the URLs.
But just 2 days back they banned the app from app store and now they banned the URLs.
We are still able to access the URLs using VPN though.

Yep, Binance, Kucoin, Mexc, Kraken, Huobi — none of these work today.

Quote from: Bureau on January 12, 2024, 11:55:10 PM

I then checked for Kucoin and OKX and both website are appearing. I don't think that my ISP won't work on the ban request by the government. I did check Google Play Store and those apps are showing up. Are you sure that the urls are blocked?

Surely blocked on Jio and from Twitter I gather same case with airtel, what ISP are you using? Exchange apps were removed from apple's app store, not from Google play (at least not yet).

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Quote from: pawanjain on January 12, 2024, 01:27:01 PM

Update 2:

The government has banned the URLs for binance, kucoin and other exchanges.
It was a shocker for me since the government acted quickly on this matter. I thought they will take some good amount of time before banning the URLs.
But just 2 days back they banned the app from app store and now they banned the URLs.
We are still able to access the URLs using VPN though.

After reading your update, I went ahead and tried accessing Binance.com using my phone and I was able to visit the website.

I then checked for Kucoin and OKX and both website are appearing. I don't think that my ISP won't work on the ban request by the government. I did check Google Play Store and those apps are showing up. Are you sure that the urls are blocked?

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Update 2:

The government has banned the URLs for binance, kucoin and other exchanges.
It was a shocker for me since the government acted quickly on this matter. I thought they will take some good amount of time before banning the URLs.
But just 2 days back they banned the app from app store and now they banned the URLs.
We are still able to access the URLs using VPN though.

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Quote from: pakhitheboss on January 12, 2024, 07:09:14 AM

I am using MEXC application on my Android device. If there is ban can the ISP restrict me from accessing the application? This is what's bothering me as I have never been in such a situation and for that I am planning to start using paid VPN. Few of friends suggested that Express VPN is the best for India what do you guys recommend?

If there is a ban then things will be complicated with accessing the app even with the VPN whether it's free or paid, because the servers will be taken down from India without the running servers in India I am not sure if we can access the app, but surely we can access the website and continue trading there.

Nord VPN is a good choice too, but I never used any paid VPN in my Android, but I always use Turbo VPN whenever it's needed. Cheesy

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Quote from: Bureau on January 12, 2024, 01:07:26 AM

Quote from: pawanjain on January 11, 2024, 11:46:57 AM

Things will change soon though and the government won't ban Binance from being used in India.

So, in case the ban happens like what happened on the Apple Play Store, what VPN is recommended? I am not going to wait for the app to come back.

Quote from: pakhitheboss on January 12, 2024, 07:09:14 AM

I am using MEXC application on my Android device. If there is ban can the ISP restrict me from accessing the application? This is what's bothering me as I have never been in such a situation and for that I am planning to start using paid VPN. Few of friends suggested that Express VPN is the best for India what do you guys recommend?

I use proton VPN on daily basis and recommend the same.You can opt for proton VPN which is reliable and free to use or you can create your own VPN using any cloud services.
Even that can be free as there are free tiers for very basic plans and are sufficient to keep the node running.
There are tutorials available on Youtube as to how to do that.

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Quote from: Bitcoin Smith on January 12, 2024, 04:01:41 AM

Quote from: Bureau on January 12, 2024, 01:07:26 AM

Quote from: pawanjain on January 11, 2024, 11:46:57 AM

Things will change soon though and the government won't ban Binance from being used in India.

So, in case the ban happens like what happened on the Apple Play Store, what VPN is recommended? I am not going to wait for the app to come back.

We can't install apps other than what is available on the app store in IOS, thanks to the closed ecosystem. Grin

So the only option will be jail breaking the iPhone and install the app file (highly not recommended).

But for the android the solution is pretty simple, just download the APK and install it, but I don't see an option to download the wallet file from official site, so we have to trust the third party website!

I have been using MEXC global for sometime and Binance as I have seen a lot of coins that would get listed in big exchanges like Binance always first get listed on it. Got some decent profits with a few listing and I fear MEXC global will get banned. They are a non KYC centralized exchange and that is their USP. Why would they even want to comply with Indian government AML rules?

I am using MEXC application on my Android device. If there is ban can the ISP restrict me from accessing the application? This is what's bothering me as I have never been in such a situation and for that I am planning to start using paid VPN. Few of friends suggested that Express VPN is the best for India what do you guys recommend?

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Quote from: Bureau on January 12, 2024, 01:07:26 AM

Quote from: pawanjain on January 11, 2024, 11:46:57 AM

Things will change soon though and the government won't ban Binance from being used in India.

So, in case the ban happens like what happened on the Apple Play Store, what VPN is recommended? I am not going to wait for the app to come back.

We can't install apps other than what is available on the app store in IOS, thanks to the closed ecosystem. Grin

So the only option will be jail breaking the iPhone and install the app file (highly not recommended).

But for the android the solution is pretty simple, just download the APK and install it, but I don't see an option to download the wallet file from official site, so we have to trust the third party website!

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Quote from: pawanjain on January 11, 2024, 11:46:57 AM

Things will change soon though and the government won't ban Binance from being used in India.

So, in case the ban happens like what happened on the Apple Play Store, what VPN is recommended? I am not going to wait for the app to come back.

Quote from: Bitcoin Smith on January 11, 2024, 03:34:21 PM

I got this email too and as far as I read they are working on to come to the agreement, but nothing yet guaranteed about the future of Binance in India while we don't need to worry about using Binance app for now because it's not banned, and we can still use the current version as long as government not announce the ban.

Binance is still available on Playstore, so whoever using Binance please update to the latest version ASAP before it vanish because it will take months to come back in action even if everything settled well.

The content of the email is the same as they posted on their x.com handle for India. It will take time for them to get the issue resolved as they do not have any physical presence anywhere in the world. Updating the app would be the right thing to do but knowing Binance they sent updates every month. So it is a temporary solution to the upcoming problem.

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Quote from: pawanjain on January 11, 2024, 11:46:57 AM

Things will change soon though and the government won't ban Binance from being used in India.

I got this email too and as far as I read they are working on to come to the agreement, but nothing yet guaranteed about the future of Binance in India while we don't need to worry about using Binance app for now because it's not banned, and we can still use the current version as long as government not announce the ban.

Binance is still available on Playstore, so whoever using Binance please update to the latest version ASAP before it vanish because it will take months to come back in action even if everything settled well.

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Update 1:

Just got an update from Binance over email saying they are working with the regulators to comply with policies.
This means that their app was removed from app store for the same reason.
Things will change soon though and the government won't ban Binance from being used in India.

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Quote from: pakhitheboss on January 05, 2024, 04:23:06 AM

Does anyone have any updates on this topic? I searched today and found nothing on this topic. I am still able to access the exchanges on my phone without any issues. The problem with this government is that they do not keep its public updated. One fine morning they will wake up and place a ban before the community can come up with an alternative. I am sure many here would have some funds in one of these exchanges as I do for trading. If I am unable to access those funds then my BP will go high. Grin

If you are holding funds on an exchange then that's the first thing you should reconsider.
Only hold amounts on third party platforms that you can afford to lose and so that your BP doesn't go higher.

As I mentioned in my post, the government hasn't announced deadlines for the shadow ban.
That's the reason why all of us are still able to access the exchanges without any hassle.
Once the ban is implemented it will take us 1 minute extra to access the exchange and so be prepared for it.

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Does anyone have any updates on this topic? I searched today and found nothing on this topic. I am still able to access the exchanges on my phone without any issues. The problem with this government is that they do not keep its public updated. One fine morning they will wake up and place a ban before the community can come up with an alternative. I am sure many here would have some funds in one of these exchanges as I do for trading. If I am unable to access those funds then my BP will go high. Grin

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Quote from: pawanjain on January 01, 2024, 09:26:28 AM

Quote from: TheUltraElite on January 01, 2024, 08:10:40 AM

Quote from: pawanjain on December 31, 2023, 08:58:36 AM

Government database is not very secure. There are cases where someone stole data from government database and sold it to other companies.
That's my major concern and the only way around it is if exchanges have some kind of usage access requirements for the government.

Be assured that your data is probably already on the internet, so you have nothing to hide. The government's data leak is very common in India and recent events have made it very clear.

So whether giving KYC data to an exchange is safe or not? Chances are they already have that data and are only cross checking if you are telling the truth.

As long as you are law abiding citizen and are getting the crypto from clean sources, you should be fine. However this is a crude way of saying it.

Well, it's not just about getting KYC data but actually finding out who is owning how much.
May be their plan is to extract tax from these crypto investors and also find out those people who are evading tax.
Money laundering is what they are bringing forward but they will also catch those people who are evading tax, identify crypto scammers etc...
All in all this sounds like a positive move but the only problem is banning URLs won't be sufficient.
The government will find it difficult to catch these people without having any backup plan.

AML policy is important for the government. A lot of illegal activities get funding through crypto in these times. Another information they want get out of this shadow ban is to find out how many users have evaded tax. Then they will start sending them letters to pay the amount or face the law.

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Quote from: TheUltraElite on January 01, 2024, 08:10:40 AM

Quote from: pawanjain on December 31, 2023, 08:58:36 AM

Government database is not very secure. There are cases where someone stole data from government database and sold it to other companies.
That's my major concern and the only way around it is if exchanges have some kind of usage access requirements for the government.

Be assured that your data is probably already on the internet, so you have nothing to hide. The government's data leak is very common in India and recent events have made it very clear.

So whether giving KYC data to an exchange is safe or not? Chances are they already have that data and are only cross checking if you are telling the truth.

As long as you are law abiding citizen and are getting the crypto from clean sources, you should be fine. However this is a crude way of saying it.

Well, it's not just about getting KYC data but actually finding out who is owning how much.
May be their plan is to extract tax from these crypto investors and also find out those people who are evading tax.
Money laundering is what they are bringing forward but they will also catch those people who are evading tax, identify crypto scammers etc...
All in all this sounds like a positive move but the only problem is banning URLs won't be sufficient.
The government will find it difficult to catch these people without having any backup plan.

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Quote from: pawanjain on December 31, 2023, 08:58:36 AM

Government database is not very secure. There are cases where someone stole data from government database and sold it to other companies.
That's my major concern and the only way around it is if exchanges have some kind of usage access requirements for the government.

Be assured that your data is probably already on the internet, so you have nothing to hide. The government's data leak is very common in India and recent events have made it very clear.

So whether giving KYC data to an exchange is safe or not? Chances are they already have that data and are only cross checking if you are telling the truth.

As long as you are law abiding citizen and are getting the crypto from clean sources, you should be fine. However this is a crude way of saying it.

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Quote from: pawanjain on December 31, 2023, 08:58:36 AM

The most they can extract out of the exchanges is the list of people who are into crypto, their KYC details and also the transactions they are making.
I mean, I know that's a lot of information in itself but I think exchanges should have a condition to give it only on requirement basis.
So that the government doesn't have direct access to that information and store it on their database but fetch it in cases of money laundering on requirement basis.
Government database is not very secure. There are cases where someone stole data from government database and sold it to other companies.
That's my major concern and the only way around it is if exchanges have some kind of usage access requirements for the government.

No company is willing to provide all their financial activities to a foreign government because it exposes more thing than what they say to us so it can affect their progress and profit making. And you can expect a service provider to do such things when there isn't even a regulation from the country, so they should be working on the regulating frameworks before going after the exchanges.

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Quote from: Bitcoin Smith on December 31, 2023, 06:35:37 AM

Quote from: Bureau on December 30, 2023, 11:10:04 PM

I don't think that exchanges in such a situation would ban VPN. They need that Indian user base and moreover I feel they would comply to the Indian government policy. They don't want to lose the volume Indian crypto users are generating on thier exchanges.

We don't know what the Indian government is proposing in the name of AML and what if they are asking more than they are supposed to know and crossing the limits that no government tried to do?

If exchanges really care about the Indian user base then they might come around or just let the condition be and so people can keep using their service but former is the better for the future of cryptocurrency in India cause our government can highlight the same reason to ban the crypto if that is their ultimate goal.

What else are we providing other than KYC ?

The most they can extract out of the exchanges is the list of people who are into crypto, their KYC details and also the transactions they are making.
I mean, I know that's a lot of information in itself but I think exchanges should have a condition to give it only on requirement basis.
So that the government doesn't have direct access to that information and store it on their database but fetch it in cases of money laundering on requirement basis.
Government database is not very secure. There are cases where someone stole data from government database and sold it to other companies.
That's my major concern and the only way around it is if exchanges have some kind of usage access requirements for the government.

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Quote from: Bureau on December 30, 2023, 11:10:04 PM

I don't think that exchanges in such a situation would ban VPN. They need that Indian user base and moreover I feel they would comply to the Indian government policy. They don't want to lose the volume Indian crypto users are generating on thier exchanges.

We don't know what the Indian government is proposing in the name of AML and what if they are asking more than they are supposed to know and crossing the limits that no government tried to do?

If exchanges really care about the Indian user base then they might come around or just let the condition be and so people can keep using their service but former is the better for the future of cryptocurrency in India cause our government can highlight the same reason to ban the crypto if that is their ultimate goal.

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Quote from: pawanjain on December 30, 2023, 09:15:41 AM

At least someone had a benefit out of this decision from the government i.e. VPN companies had a rise in traffic.

You dont say. The porn ban led to VPN gold run in India. People started knowing what a VPN is after that event.

Quote

On the other hand, don't you think there's a little risk if we use VPN or Tor to access our crypto accounts ?

I would not say there is no risk. But do we have any other choice?

Quote

But anyway, I feel that these crypto exchanges will soon comply with AML policies now that the government had made the announcement.

Indeed, and I hope that regulations will be such that it helps the common law-abiding citizen to transact without roadblocks and the criminals to get caught trying to exchange tainted funds.

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Quote from: kentrolla on December 31, 2023, 12:05:32 AM

Quote from: Bureau on December 30, 2023, 05:40:45 AM

Ban the URL is a way of saying ban the application and the online access to these exchanges. I have not been able to find out when will this ban happen. I am only getting information that these 8 exchanges need to comply with AML policy and if not then they will place the ban. A ban in this age of the internet is never possible as there is always another way to access those URLs. So the government ban will not work unless they ban the internet in India or the exchange stops onboarding Indian crypto users.

Ban won't stop people from having access to these exchange but it would be difficult to cashout if you want as there might be hurdles if you want to convert crypto to fiat and ths would push people towards illegal steps hence government should consider all the possible reactions associated with it if they consider banning url, There is no need of taking this hasty step but stubborn government is not leaving any opportunity in killing Indian crypto industry which is bad news as India was once dominating this space.

Why would it be difficult? Most of the named crypto exchanges have P2P service for Indians. If anyone is able to access the exchange then they will be able use the P2P service of that exchange. I don't think that there would be an issue. The government decisions is justified if the matter is related to AML policy but the way they are doing it doesn't make any sense.

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Quote from: Bureau on December 30, 2023, 05:40:45 AM

Ban the URL is a way of saying ban the application and the online access to these exchanges. I have not been able to find out when will this ban happen. I am only getting information that these 8 exchanges need to comply with AML policy and if not then they will place the ban. A ban in this age of the internet is never possible as there is always another way to access those URLs. So the government ban will not work unless they ban the internet in India or the exchange stops onboarding Indian crypto users.

Ban won't stop people from having access to these exchange but it would be difficult to cashout if you want as there might be hurdles if you want to convert crypto to fiat and ths would push people towards illegal steps hence government should consider all the possible reactions associated with it if they consider banning url, There is no need of taking this hasty step but stubborn government is not leaving any opportunity in killing Indian crypto industry which is bad news as India was once dominating this space.

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Quote from: libert19 on December 30, 2023, 09:39:32 PM

Quote from: pawanjain on December 30, 2023, 09:15:41 AM

Quote from: TheUltraElite on December 30, 2023, 05:57:03 AM

LOLz the government here is like lets ban the URL and nobody can access it. They forget what Proxies, VPNs are and how TOR can also be used to bypass all such rules. Previously we have had Porn ban and that only led to more VPNs running their businesses well in the country. Idiotic 8th standard fail politicians can even speak the C of crypto and they are making rules for the commoners.

However money laundering is rampant through crypto in India but this is not the method to control it.

At least someone had a benefit out of this decision from the government i.e. VPN companies had a rise in traffic.
On the other hand, don't you think there's a little risk if we use VPN or Tor to access our crypto accounts ?
The traffic passes through these VPN tunnels and using Tor or other free VPNs might expose our data to them.
But anyway, I feel that these crypto exchanges will soon comply with AML policies now that the government had made the announcement.

That's true, but as long as you use reputed vpn providers, it shouldn't happen. ProtonVPN, Windscribe are few of good ones, I have personally used.

Also, I feel if crypto exchanges start banning vpn use, like casinos do, then things might turn out bit difficult for traders especially if they get caught.

I don't think that exchanges in such a situation would ban VPN. They need that Indian user base and moreover I feel they would comply to the Indian government policy. They don't want to lose the volume Indian crypto users are generating on thier exchanges.

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Quote from: pawanjain on December 30, 2023, 09:15:41 AM

Quote from: TheUltraElite on December 30, 2023, 05:57:03 AM

LOLz the government here is like lets ban the URL and nobody can access it. They forget what Proxies, VPNs are and how TOR can also be used to bypass all such rules. Previously we have had Porn ban and that only led to more VPNs running their businesses well in the country. Idiotic 8th standard fail politicians can even speak the C of crypto and they are making rules for the commoners.

However money laundering is rampant through crypto in India but this is not the method to control it.

At least someone had a benefit out of this decision from the government i.e. VPN companies had a rise in traffic.
On the other hand, don't you think there's a little risk if we use VPN or Tor to access our crypto accounts ?
The traffic passes through these VPN tunnels and using Tor or other free VPNs might expose our data to them.
But anyway, I feel that these crypto exchanges will soon comply with AML policies now that the government had made the announcement.

That's true, but as long as you use reputed vpn providers, it shouldn't happen. ProtonVPN, Windscribe are few of good ones, I have personally used.

Also, I feel if crypto exchanges start banning vpn use, like casinos do, then things might turn out bit difficult for traders especially if they get caught.

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Quote from: TheUltraElite on December 30, 2023, 05:57:03 AM

LOLz the government here is like lets ban the URL and nobody can access it. They forget what Proxies, VPNs are and how TOR can also be used to bypass all such rules. Previously we have had Porn ban and that only led to more VPNs running their businesses well in the country. Idiotic 8th standard fail politicians can even speak the C of crypto and they are making rules for the commoners.

However money laundering is rampant through crypto in India but this is not the method to control it.

At least someone had a benefit out of this decision from the government i.e. VPN companies had a rise in traffic.
On the other hand, don't you think there's a little risk if we use VPN or Tor to access our crypto accounts ?
The traffic passes through these VPN tunnels and using Tor or other free VPNs might expose our data to them.
But anyway, I feel that these crypto exchanges will soon comply with AML policies now that the government had made the announcement.

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The negative attitude of this Indian government is now coming out in open. AML policy for those exchanges which operates virtually and doesn't have a physical presence. Okay, now I understand, why Coinbase left India.

LOL 😂 what does url ban means? Are they even serious? Don't they know VPNs? Tiktok is still being used by Indian's after they banned it in India. You can find APK file for all banned applications, the exchange themselves would start asking Indian users to download and install it, if they ban url Wink

I do feel that these 8 exchange would comply to the AML policy. They would then be asked by the government to provide the list of Indians using their platform as most of them have made KYC compulsary. But, MEXC does not ask for KYC for transaction upto 2 BTC, so if it agrees to AML policy still the government won't be able to get that user data. Then what will the government do?

The actual reason for doing all this mumbo jumbo is to get those India user information. The government has made a significant loss of TDS as international exchange don't ask to 1% government cut in the name of TDS. They are now trying to find those guys and earn back what they lost.

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So anyway, I applied as a merit source :)

LOLz the government here is like lets ban the URL and nobody can access it. They forget what Proxies, VPNs are and how TOR can also be used to bypass all such rules. Previously we have had Porn ban and that only led to more VPNs running their businesses well in the country. Idiotic 8th standard fail politicians can even speak the C of crypto and they are making rules for the commoners.

However money laundering is rampant through crypto in India but this is not the method to control it.

Bureau

sr. member

Activity: 490

Merit: 279

Ban the URL is a way of saying ban the application and the online access to these exchanges. I have not been able to find out when will this ban happen. I am only getting information that these 8 exchanges need to comply with AML policy and if not then they will place the ban. A ban in this age of the internet is never possible as there is always another way to access those URLs. So the government ban will not work unless they ban the internet in India or the exchange stops onboarding Indian crypto users.

libert19

hero member

Activity: 2520

Merit: 952

I dunno url ban would do much, there are plenty ways to circumvent around that.

It would be better if government would try to bring proper and reasonable tax rules for crypto than try to curb it down with such stuff.

Quote from: Bitcoin Smith on December 30, 2023, 12:39:52 AM

I did see this article and for a change I waited for someone to make a thread this time. Wink

I was aware of it but didn't think it was worth to post because url ban, lol.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

I did see this article and for a change I waited for someone to make a thread this time. Wink

Blocking URLs is enough? Our cyber knowledge or the leaders are that much lame.

If they actually want the exchanges to stop Indian from using their exchange or comply AML policies then they should make them but banning url is not going to do anything because we knew how to use VPN very well.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

We can never trust Indian government as it's acting really sadistic way, to be honest every single policy they have when it comes to crypto are really harsh they don't directly ban crypto but literally kill it with stupid policies. Indian government just want it's population to stay poor and wants their cut even before they earn and moreover we have seen Indian exchanges dying. a slow death, and if they keep scrutinizing crypto exchanges then big traders would just move out and set their base in countries like Malta or Estonia like many have already done.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

I was wondering why nobody has made a post about it yet and so I did it myself.

The government of India has announced a shadow ban on crypto exchanges including popular exchanges like Binance, Huobi, Kraken etc...
All of these exchanges were not adhering to AML regulations in India and so the government has announced that they will block the URLs to these websites soon.
Although they have not mentioned the timeline before start restricting user access to these sites but they have become strict with their AML laws now.

They had already made a written declaration earlier this month about the AML regulations after which many domestic exchanges registered themselves with the Financial Intelligence Unit (FIU).

My thoughts: The elections are near. Crypto is booming. Government wants to get their hands on it too Tongue

Source: https://www.coindesk.com/policy/2023/12/28/india-issues-compliance-show-cause-notices-to-9-offshore-exchanges-including-binance-and-kucoin/

Topic: Shadow Ban on Crypto Exchanges (Read 594 times)