My Safe Strategy Against BAN – India bans Exchanges

My Safe Strategy Against BAN – India bans Exchanges
In this video, we discuss India’s shadow ban on nine major crypto exchanges, emphasizing compliance with regulations. Users are advised to consider Indian exchanges, explore compliant foreign options cautiously, or opt for decentralization by shifting funds to trusted wallets and using decentralized exchanges like PancakeSwap and Uniswap for trading. Watch for insights on software wallets and DEX usage in the comments.

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So India has banned 9 big crypto exchanges like Binance, KuCoin and Houbi. Like TikTok, we will not be able to access these exchanges. So what is the whole matter and how can we keep our funds safe here? What action should we take here? Let’s discuss in this video.

If you like the video, then do like the video. And if you have not subscribed to the channel yet, then do subscribe to the channel. So at this time, before taking any decision in panic, let’s understand the actual circular that has come here. What is the government trying to say?

So the Financial Intelligence Unit India, in short, the FIU-IND says that Block URLs of 9 entities operating illegally without complying with the provision of PMLA Act in India. That is, all those exchanges that do not comply with the law of the government. The URL of all those exchanges will be banned here.

So as clearly mentioned, there is no direct ban here. In fact, those exchanges will be shadow banned in this list that will not work with the regulation. That is, like our Indian exchanges are working with 1% TDX, 30% tax. And sharing all the transaction data with the government.

All these norms will have to be followed by these foreign exchanges. If these exchanges do not follow these guidelines, then they will be shadow banned here. So now, as a user of these exchanges, what options do we have? What is the solution for us? So here we have three options.

The first option is that we use Indian exchanges. So here is the list where there are names of Indian exchanges that follow the guidelines in India. So you can use any of these exchanges. The second option we have is that for now, the names of the exchanges are not in this list.

It is not in the shadow ban list. Like you can use Bybit here. But remember, in the future, the name of these exchanges is also a possibility to be added to this list. Now the third and most safest option is that we can move towards decentralization.

And as I have already shared many times in my video. That using a hardware wallet is one of the safest options in cryptocurrency. So you can either use a hardware wallet here. Or software wallet, like we have decentralized exchanges here. Like Uniswap, Oneinch, Pancakeswap. You can also prefer them for trading.

So these are some options that I think you can try out here at this time. And remember one thing. As far as I feel, the way TikTok was banned here overnight, it will not be the same here. Because a lot of money of our Indian users is lying on these foreign exchanges.

So I think the government will take a sensible decision here. And will give a timeline in which we will be able to withdraw funds easily. Rest, this is my personal opinion. What is your opinion, let me know in the comment section. If you liked the video, then do like the video.

And if you have not subscribed to the channel yet, then do subscribe to the channel. See you in the next video. Till then take care and bye-bye.