Is crypto now completely banned in India?

[k2h2]

I saw threads here telling that binance and other exchanges website brought down. So is crypto now completely banned in India? I follow legal status of this and last time court said that it is legal to use crypto in India. So is it ok if someone uses only Indian crypto exchanges?

 

[Thunderproxy]

Interesting, I already thought

 

[Gurusocial]

I saw threads here telling that binance and other exchanges website brought down. So is crypto now completely banned in India? I follow legal status of this and last time court said that it is legal to use crypto in India. So is it ok if someone uses only Indian crypto exchanges?

I thik it's ok to use Indian Crypto Exchanges

 

[impriyal]

There is not banned just they need to follow rules n pay taxes

 

[alonelywriter]

From what I have read in the online articles. Indian Govt Banned the apps because they were involved in money laundering activities internationally. They haven't banned trading of crypto, but they have banned the apps only.
I think you can still trade through local indian crypto exchanges.

 

[Gogol]

I can confirm that binance is not opening from Indian internet connections without vpn (the app works fine though..). I received their email as well where they said this is happening to all web3 platforms, and not only to binance.

So, the govt is definitely doing something against the cexs atleast.

If I had crypto right now, I would avoid using p2p for cashing it. I would rather cash it indirectly e.g. amazon gc, swiggy/zomato gc etc. i fear the govt will introduce some new law or something this year. They are just tiding up the loose ends before doing so.

 

[k2h2]

I can confirm that binance is not opening from Indian internet connections without vpn (the app works fine though..). I received their email as well where they said this is happening to all web3 platforms, and not only to binance.

So, the govt is definitely doing something against the cexs atleast.

If I had crypto right now, I would avoid using p2p for cashing it. I would rather cash it indirectly e.g. amazon gc, swiggy/zomato gc etc. i fear the govt will introduce some new law or something this year. They are just tiding up the loose ends before doing so.

Did the email mention any corrective measure binance is taking so that the ban is lifted?

 

[Gogol]

Did the email mention any corrective measure binance is taking so that the ban is lifted?

Hmm nothing specific... this was the actual email:

Dear Binancian,

We are aware of an IP block affecting a number of crypto firms, including Binance. This only impacts users who attempt to access the Indian iOS app store or the Binance website from India. Existing users who already have the Binance app are not affected.

We remain committed to the adherence of local regulations and laws and we are dedicated to maintaining active communication with regulators to ensure user protection and the development of a healthy Web3 industry.

The ongoing situation is not unique to Binance and impacts other web3 industry players as well. We are working hard to engage in constructive policy-making that seeks to benefit every user and all market participants. All user funds are safe.

If you are having trouble accessing your account or need support, you may reach out on https://twitter.com/BinanceHelpDesk. Any changes or updates will be communicated promptly via our official channels.



Thank you

Binance

 

[hideath]

Glad to see binance actually paying back for some of the stuff they're doing,
Suspending accounts for political reasons, preventing even human/child rights support

 

[xReminisce]

is it me or it gets banned in India every year :s ?

 

[k2h2]

is it me or it gets banned in India every year :s ?

Same in China also. Still lot of regular users from both countries.