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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

 

[IB DD]

In my own country, they have banned the popular crypto exchanges but it seems like the government is trying to witch hunt Binance. They have arrested two Binance officials and kept them in custody for close to a month now.

 

[Daniel084]

The government is right to be cautious of money laundering through crypto. But a blanket ban affects honest investors too. Perhaps regulated trading could have balanced both concerns. Hopefully there will be rethink on this policy.

 

[a_jerobon]

It is so unfortunate when crypto exchanges are banned yet you had invested your money in them. Countries which ban these exchanges do so due to the skepticism they have towards them. Others are not at peace with the decentralized nature of cryptocurrencies. I wish they could not completely ban them, they could just put restrictions that control how these exchanges are used.

 

[Wisdom01]

It is so unfortunate when crypto exchanges are banned yet you had invested your money in them. Countries which ban these exchanges do so due to the skepticism they have towards them. Others are not at peace with the decentralized nature of cryptocurrencies. I wish they could not completely ban them, they could just put restrictions that control how these exchanges are used.

i think is true that some countries have banned crypto exchanges due to concerns over their decentralized nature and potential risks. Also, there are also countries that have chosen to regulate and monitor these exchanges instead of outright banning them

 

[IB DD]

My own country is doing a selective witch-hunt of Binance as if it is the only crypto exchange that operated in the country. The continuous detention of Binance staff in the country proves that it is more than just violation.

 

[Wisdom01]

I heard about binance and I think it's actually not good to see some countries putting up policies against the platform ,j really hope many sees the importance of the platform and others I think , I really want many countr

 

[Kunlee1]

Yes, India did that probably because they believe crypto is affecting it economy. Nigeria also did the same thing banning every crypto transactions and even to the extent of restricting one of the crypto apps, Binance. But it has been listed as at now

 

[IB DD]

Yes, India did that probably because they believe crypto is affecting it economy. Nigeria also did the same thing banning every crypto transactions and even to the extent of restricting one of the crypto apps, Binance. But it has been listed as at now

Listed as in how? Binance is banned in Nigeria and two of it's officials are standing trial for money laundering. I heard the NSA saying they want to open their radar on ByBit and Bitget. I just hope this doesn't affect the young people too much that rely on crypto.