Binance Will Be Banned in India?

TheXneet

TheXneet

BANNED
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Financial Intelligence Unit, India (FIU-IND) – the national co-ordinating agency against money laundering, and terror financing – has recommended blocking the URLs of nine crypto entities, including Binance on the grounds of non compliance to the provisions of the Prevention of Money Laundering Act (PMLA).

Apart from Binance, the other eight entities are – KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, Bitfinex


What should I do Should I Remove my Crypto From Binance?
 
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same issues. Should i withdraw the crypto from binance?
 
TheXneet said:
Financial Intelligence Unit, India (FIU-IND) – the national co-ordinating agency against money laundering, and terror financing – has recommended blocking the URLs of nine crypto entities, including Binance on the grounds of non compliance to the provisions of the Prevention of Money Laundering Act (PMLA).

Apart from Binance, the other eight entities are – KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, Bitfinex


What should I do Should I Remove my Crypto From Binance?
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If you're Indian maybe you should move your crypto elsewhere.

I think banning the URL is a bit too harsh, it seems crypto isn't done facing numerous battles from governments across the globe.
 
What about using it through VPN or something that bypass the country. I think that would solve the problem.

Crypto has become a threat to a lot of government. But do you know what? I like it.

This is what it should work, to unusual tax.
 
I don't think blocking a URL will cause any issues, they have blocked Tiktok, Several Domain registrars and porn sites but we are still using all these with VPN, aren't we?
 
BossBaby said:
I don't think blocking a URL will cause any issues, they have blocked Tiktok, Several Domain registrars and porn sites but we are still using all these with VPN, aren't we?
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Yep but now this is too much :weep:
 
BossBaby said:
I don't think blocking a URL will cause any issues, they have blocked Tiktok, Several Domain registrars and porn sites but we are still using all these with VPN, aren't we?
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Bro , then how we are supposed to withdraw our money.

India , has the best digital payment feature called UPI , MONEY TRANSFER in P2P is easiest
 
Once it's banned then we are done for , there are other ways but fees and other bulshit
 
Chaser Seo said:
Bro , then how we are supposed to withdraw our money.

India , has the best digital payment feature called UPI , MONEY TRANSFER in P2P is easiest
Click to expand...

Chaser Seo said:
Once it's banned then we are done for , there are other ways but fees and other bulshit
Click to expand...

Chaser Seo said:
Do I move to Coinbase ?
Click to expand...

I would advise you to post all this in a single post instead of multiple posts as this would be considered spamming, and to answer your question, Withdrawing funds doesn't have anything related to URL blocking I believe you can just withdraw to any of the crypto address from Binance as usual and P2P option would always be there, There is no way to stop that you can always sell using P2P and get funds via UPI or any preferred payment method, and Coinbase Exchange has already stopped services in India.
 
So form my experience when Canada Banned Binance, it took 3 months for the ban to take effect.
The only action I Could perform was withdraw my funds. They will remove your deposit addresses.

Even if you use VPN as KYC user from India it will not work. You can only withdraw.

So the solution is to change your KYC residence to a country that is not associated with India and is binance friendly.

If you do not have a residency anywhere else I herd you can purchase a digital residency from the republic of palau.

Best of luck!
 
Not your keys not you crypto get in your custody.The world is heading to a nanny state very quickly.
 
I do all my transactions on Binance, hope it won't get banned or at least I can use it using a VPN or some other method maybe?
 
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