HOW BINANCE'S RETURN TO INDIA COULD BE GROUNDBREAKING FOR THE CRYPTO INDUSTRY 🗿
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First they were banned by the Govt and then they were welcomed with arms wide open. The story of Binance's comeback in India was nothing less than a Roller 🎢 coaster ride.
On Thursday Aug. 15, Binance made a significant announcement regarding its entry into the Indian market. By registering with FIU-IND, Binance reached its 19th global regulatory milestone. This was a huge victory ✌🏽 But I would be focusing on the positive impact that Binance will make after this comeback. Let's delve into some of them.
📢 A Wave Of New Users Joining In
Amidst all the turmoil and uncertainties unfolding after the WazirX hack, Indian users are under huge stress and panic hasn't gone yet. Not just WazirX, a number of other Indian exchanges are facing backlash for not allowing crypto withdrawals which demolished the concept of decentralisation.
No doubt such illogical authorization has made users rethink looking for better, safe and transparent options and what else could be better than Binance.
📢 More Liquidity
India has been among the front runners when it comes to crypto investment. In the previous cycle there came a time when India was on top in terms of the highest number of investors, but soon the number dropped after the introduction of 30% taxes in the March, 2022 budget. The arrival of new and even old retail investors will bring in a fresh bag of funds which is definitely going to boost the market.
📢 Better Earning Opportunities
We have come across stories that people have made fortunes from just Binance alone. Indeed a global platform that offers so many features in a single application is nothing less than incredible. From staking tokens to launchpool and many more, Binance has come a long way to become the pioneer of the crypto industry. This will open doors for Indian investors to try these opportunities for becoming profitable in the long run.
Welcome back to India.
