More Bad News: Why Market is Crashing | Govt Started Banning Crypto Exchanges | ETF’s Rejected

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More Bad News: Why Market is Crashing | Govt Started Banning Crypto Exchanges. In this video ill be talking about why the crypto market is crashing and ill tell you what to do next

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Guys just one small report from Matrix Port sent Bitcoin crashing from $4,300 to $4,400 now as you all know the market was little bit positive and bullish just because of ETF approval news right so this Matrix Port put out an report telling that don’t get so excited about

A spot Bitcoin ETF approval because ETF isn’t getting approved now if you look at this report eding itself is very negative they have written why the SEC will reject Bitcoin spot ETFs again so in their they’re trying to convey the message that SEC is going to reject ETFs again

But if you read the report carefully they’re telling that if if the Bitcoin ETF gets rejected then you could see 20% crash in bitcoin’s price and it could fall back to $336,000 to $388,000 range so this created a little bit of fud and panic in the market and do you know one

More thing just because of this report the market didn’t crash this is all wh manipulations guys as soon as this report came out I immediately posted this on my telegram Channel and during the time there was hardly 2 to 3,000 views on their report so do you think

That only few th000 people that to retail investors could crash the market so much there’s no way guys if you remember in one of my previous videos I was telling that if ETFs gets approved the market will pump a lot right and do you think that those trillion dollars

Asset management companies and Wales will buy Bitcoin at such high prices no they will manipulate the market bring the prices down and they will grab everything at cheap prices so guys relax okay there’s nothing to worry Bitcoin has pumped way too much so expect little bit of correction okay and those people

Who are into Futures Trading uh I suggest you to wait for some time okay the market is highly unstable and yes this is also the perfect time to fill up your spot Holdings so those people who are waiting for the dip the time is now and long-term holders nothing to worry

Okay just relax and continue what you are doing okay now moving on to the next topic guys I didn’t have the plan to make video on this topic but uh looking at few people’s comments and messages mes I had to make a video and clarify a few things guys literally so many people

Are still confused on what to do next and which exchange to use guys I’m not kidding I’m getting messages where people are asking me to stop making crypto videos on YouTube because the government of India banned crypto enss when did this happen so on December 28th the Indian government puts out an

Circular and calls out n International crypto exchange operations as illegal in India so this was that circular and as soon as this news came out I immediately updated this on my telegram channel so yes guys this is the reason why you should follow me on my telegram Channel

If you’re still not following then make sure you do that my telegram Channel link will be in the description of this video so basically a circular was passed from fiio Financial intelligence unit of India to ban and block the URLs of nine prominent International crypto exchanges

That we use on daily basis so this notice is nothing but a compliance notice to Offshore exchanges to comply with Indian rules and regulations so fi rate to Ministry of electronics and information technology to block the URLs of nine exchanges that are operating illegally without complying to Indian

Regulations and those exchanges in the list are binance C coin get. IO hobby Kraken bitx bit stamp mexe and bit phex so the government is warning and telling that comply with the rules and regulations if not we are going to block your URLs within the country guys blocking URLs is basically like blocking

The website and there applications or websites will not work because their servers will get shut down now worst case scenario let’s assume that government banned this exchanges so if that happens then you cannot assess these exchanges but your account with your funds will be there on that

Exchange okay and to assess that you should use VPN guys the Indian cryptocurrency market is very huge okay so do you think that these n exchanges will not comply to indan regulations they don’t want to miss the Indian market okay so they will comply so nothing will happen to these n exchanges

Okay so don’t worry and guys when it comes to my portfolio 80% of my assets are on valets and the remaining 20% are on exchanges mainly bitg get and binance exchange and yes in that list of nine exchanges bitg get name is not there guys those people who still want to keep

Their funds on exchanges then you can go with bidget okay bidget is one of the best Alternatives now I’m also planning to shift my funds from uh binance to bitg because the reason is very simple each and every week there’s some kind of negative news related to binance

Exchange and binance is also facing so much of regulations outside of India and they’re being targeted all over the world and that’s not good so if you don’t have an account on bitg then I’m going to leave the link in the description of this video okay so you

Can use that and create an account on bitg Exchange okay now this notice comes under pmla prevention of money laundering act they need to register with FIU India as a reporting entity and comply with the set of obligations and as you all know there’s no TDS on off

Share exchanges right so the government wants to change that and they want them to comply with the Indian taxation role and until date there’s 31 vda SPS that have registered with FIU and they’re legal to operate in India guys in the future let’s assume that I exence

Doesn’t want to follow Indian rules and regulations so if they do that then obviously they will get banned so in case if you want to assess this ban exchange and in case if you want to withdraw funds from this band exchange then you can use VPN now some of you

Might think like the government is doing all this to finish the crypto industry in India but no guys so these type of harsh regulations will revolutionize crypto industry within the country but only thing is they should reduce crypto tax okay it’s little bit too high and 1%

TDS you can claim it back when you file your income tax okay so there’s no issues and one more thing in this list there are only nine exchanges right so don’t think that the FI is behind only this nine exchanges and I think due to some reason they have not included other

Exchanges name in this list okay guys the main purpose of government doing all these things is to prevent money money laundering and to prevent Terror funding activities that happens through crypto so to check which transactions are funding what and to track where the money is Flowing it is important for

Exchanges to follow the Indian law and also in case if any exchange carries out any type of manipulation or any kind of frauds then it will get noticed by the Indian law now some of you might be thinking like uh India is the only country where there’s so much of rules

And regulations for crypto no guys sooner or later all the countries all over the world will definitely bring out their own rules and regulations now I’m not talking about tax thing okay I’m talking about regulations and according to me this is not a bad thing okay but

The only thing is 30% flat tax on crypto profits is way too high and I don’t agree to that and I want them to reduce the tax percentage and as a crypto influencer I’ll try my best for my voice to get heard now guys in case if you

Don’t want to deal with all these type of edics and in case if you don’t want to take any risk then just move your crypto assets to hot or cold wallets now what do you think let me know that in the comment section down below and do

Follow me on my telegram Channel okay my telegram Channel link will be in the description of this video okay guys now please do drop a like on this video and in case if you’re new to this channel consider subscribing now in case if you’re a subscriber I’ll meet you in the

Next video Until then have peace