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Just In: India Bans Major Crypto
Exchanges
Don't Panic! Your Funds are Safe 700
India blocked access to websites of
several offshore crypto exchanges,
including Binance, Kucoin, OKX, Gate.io
and many others on January 12. This
action followed the removal of these
platforms from the Apple App Store in the
country just a few days earlier.
The move is a consequence of the finance
ministry issuing show-cause notices to
these platforms on December 28, citing
non-compliance with the country's money
laundering laws.
The notice was directed at Binance,
Kucoin, Houbi, Kraken, Gate.io, Bittrex,
Bitstamp, MEXC Global, and Bitfinex,
accusing them of operating illegally in
India by failing to register and adhere to
local tax regulations.
In response to the alleged violations, the
finance ministry instructed the information
technology ministry to block the URLs of
these platforms, leading to the recent
website restrictions. However, the
websites of thse exchanges can still be
accessed through VPNs.
Binance Assures Indian Users Their Funds
are Safe.
Confirming the situation, Binance sent an
email to its customers in India, clarifying
that it only impacts users attempting to
access the Indian iOS app store or the
Binance website from India. However,
existing users with the Binance app are
reportedly unaffected by the restriction.
Binance emphasized its commitment to
complying with local regulations and laws,
asserting active communication with
regulators to ensure user protection and
foster the development of a healthy Web3
industry.
@Krypto1signal

Love you everyone ❤️❤️ #BinanceChristmas. #baned #CHUFFGANG #opentrade #CFX

TODAY CRYPTO MARKET FEAR AND GREED INDEX
#Bullrun
#baned
#BTC

API can save Indian Users.
As Google and Apple removed Crypto Exchanges from their Platforms because Indian FIU unit blocks its URL.

So for now users can create API for backup in case the Apps will be banned 🚫

To create the API and to use it give a follow for next post.#CryptoNewsLand
#baned #IndianRegulation #indiabanURL

1. India has taken measures to block access to various offshore crypto exchanges, including Binance, Kucoin, OKX, and others.

2. The decision to block these exchanges follows their removal from both the Apple App Store and Android Play Store in India.

3. The finance ministry issued show-cause notices on December 28, accusing these platforms of operating illegally by not complying with local money laundering laws and tax regulations.

4. The accused platforms include Binance, Kucoin, Houbi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.

5. In response to the allegations, the finance ministry instructed the information technology ministry to block the URLs of these platforms, resulting in the recent website restrictions.

6. Users can still access these exchanges through VPNs, but using VPNs carries associated risks, including potential exposure to hacking threats.

7. Binance reassured its Indian users through an email, clarifying that the restrictions only affect users attempting to access the Indian iOS app store, play store, or the Binance website directly from India.

8. Existing users with the Binance app are reportedly unaffected by the restrictions.

9. Binance emphasized its commitment to complying with local regulations, actively engaging with regulators to ensure user protection.

10. Binance also expressed its dedication to contributing to the development of a robust Web3 industry.

#BTC #cpi #etf #ETH #baned