Breaking Crypto India News: Exchange URL Ban Gets Positive Reaction – 2023

Crypto News – India has experienced turbulent times when it comes to cryptocurrency. The Indian government has persisted in its schemes to undermine the cryptocurrency business, even after the Supreme Court of India invalidated the Reserve Bank of India‘s (RBI) 2020 prohibition on financial institutions engaging in cryptocurrency operations.

Breaking Crypto India News: Exchange URL Ban Gets Positive Reaction – 2023

Under the pretense of not complying with money laundering compliance regulations, authorities are imposing a URL ban on overseas exchanges as part of their most recent crypto crackdown. The crypto community took a glass-half-full stance in response, remaining calm and collected. 

Nischal Shetty, founder of WazirX, was among those who reacted positively to the Indian authorities’ ban on exchange URLs. Shetty sees this action as an effort to harmonize regulations across jurisdictions and strive for greater regulatory transparency and control. Shetty said that rather than viewing this as a setback, this is essential for the development of India’s cryptocurrency industry. 

Aditya Singh, co-founder of Crypto India, echoed Shetty’s sentiments, stating that the move’s likely goal was to persuade overseas exchanges to comply with a licensing structure similar to how other jurisdictions function.

YouTuber Ivan on Tech Defends DEX and VPN Use

The crypto community may take a defiant stand, but Indian authorities insist that evading registration and compliance requirements is what led to the URL ban. A more forceful response was taken by YouTuber Ivan on Tech, who urged Indian investors to use VPNs and DEXs to get around the restrictions. Still, he thought that the URL ban would prove that cryptocurrency couldn’t be stopped, so he remained optimistic about the future.

The elderly people running these governments don’t get tech, they think math and cryptography cares about their silly laws they write on papers,

Ivan on Tech