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[iamawriter]

India has banned several Crypto Exchanges Apps as they feel these Exchanges are a door for money laundering They could have put restrictions but not banned them this way Those who have Cryptos loaded with them and want to exchange for Fiat currency I notice are stuck and that would mean heavy losses.

Is there any other way money can be exchanged for Fiat currency? My thinking is they could send their Cryptos to their friends or family in other countries where there are no restrictions

 

[Gamer01]

Most of the countries do always take steps like this actually and they do so everything on purpose , if the people who are using crypto then can show some sort of efforts they can acyually make their countries consider their decision making always indeed actually .

 

[lamia5765]

Most countries always take steps like this actually and they do so everything on purpose, if the people who are using crypto then can show some sort of effort they can make their countries consider their decision-making.

The country considers them as a breath of rule of the country and places them in prison instead. This is to make everything clear to you. What you say is feasible if the old generation is dead and the new generation wins the elections.

 

[Donsaudi]

But i am confident Bitget is still operating legally in India and you can check it out.

Sir, all the crypto exchanges you mentioned have been banned. Kraken was explicitly mentioned on that list of banned crypto. If you see anyone accessing them, it is through a VPN. It is better to stick to local Indian crypto exchanges

 

[BullyMaguire]

well that sucks. they should have given a fair notice for those who wants to exchange their cryptos before they ban but i think you can use some sort of vpn or peer to peer transactions if you really needed to exchange and sell your coins.

 

[lamia5765]

But i am confident Bitget is still operating legally in India and you can check it out.

I have a small question if you could reply? Does the Play Store in India prevent from installing any crypto wallet either lighting network bitcoin like muun or trust wallet or exodus or similar crypto wallets? Or they are only banned on PC? Your clarification is much appreciated.

 

[Wisdom01]

Yes you are right as we can not do much at all to be honest there are people who have difficulties mostly indeed and that is why the people can only think and can give advises but it is always in the hands of the authority indeed of a country actually .

i think complying with rules and regulations is important for any company that wants to establish a successful business in a country. It is crucial to abide by the laws of the land to ensure a good reputation, build trust with customers, and avoid any legal issues

 

[Gamer01]

yes indeed only in that way business can be successful actually to be honest , it takes much effort and patience long with hard work to make busineses successful that is why we must do our best for success and growth of business solution managed by us indeed

 

[Wisdom01]

yes indeed only in that way business can be successful actually to be honest , it takes much effort and patience long with hard work to make busineses successful that is why we must do our best for success and growth of business solution managed by us indeed

True success in business requires a combination of effort and patience, as well as dedication and hard work. Additionally, businesses need to continually adapt and innovate in response to changing market conditions and evolving customer needs and preferences

 

[Gamer01]

Yes indeed no business can succeed either with lame approach or with methods that are outdated it lets you succeed only so with the dedication and effort you put for your buisness which is not easy to do so actaully indeed to be honest in my opinion .

 

[IB DD]

I have a small question if you could reply? Does the Play Store in India prevent from installing any crypto wallet either lighting network bitcoin like muun or trust wallet or exodus or similar crypto wallets? Or they are only banned on PC? Your clarification is much appreciated.

The issue in India is not about any crypto wallet. It is more about exchanges like Binance, Kraken and the rest. You can use Trust wallet and other wallets to send crypto as at now freely. But people would not be able to do crypto trading on exchanges. You even can still download these exchanges apps from playstore but you won't have internet access to use it unless you use a VPN.

 

[Gamer01]

The country has strict laws crypto is allowed to be traded only for people who do so on a declared manner and therefore such options are not allowed by the governments and the authorities mostly indeed to be honest actuallly in my opinion .

 

[Lens_]

Banning cryptocurrency is a very popular debate and some would say that banning them can be one of the ways to protect the investors from potential scams and fraud but on the other hand, it's one of the ways to stiffle innovation.

 

[Flower]

Banning cryptocurrency has effect on the cryptocurrency market and it also has a great effect on the financial ecosystem because it will hinder adoption and it will also affect innovation in the cryptocurrency space.

 

[Lens_]

It is often better to regulate cryptocurrency exchange because banning them would have a negative impact on the cryptocurrency market as a whole . So I would prefer to regulate because it will provide some level of protection for the consumers.

 

[Flower]

I want to say that burning cryptocurrency would push trading activities on the ground because it has a negative effect but I would prefer to monitor and regulate it because that will create a balance.

 

[Lens_]

The blockchain would be affected if cryptocurrency is banned and exchanges would also face liquidation and that will have a negative effect on the overall cryptocurrency market. This should be shunned seriously.

 

[Flower]

Before a decision to ban cryptocurrency exchange is considered it is better to look into the Investors, businesses and the effect of banning it on the economy because it is necessary to weigh the benefits of the customer protection.

 

[Lens_]

There is going to be a fail in the global race for blockchain if the country choose to ban cryptocurrency exchange because the it will hinder innovation and it will not protect the consumers.

 

[Flower]

There are so many consequences that is involved in Banning cryptocurrency exchange and it will cause to push crypto trading activities to the black market and that will not be right. The regulation and oversight is more effective.

 

[Niftyicon]

Countries that are skeptical about crypto for whatever reasons should approach their doubts in proactive ways not by banning crypto exchanges because instead of saving their citizens from scams or money laundering, they are left to find alternatives which may end up being even worse for them.