INDIA BEGINS BLOCKING CRYPTO

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Welcome back and now we’re hearing breaking news that India is going to be blocking Kraken binance and seven other crypto firms and this as we’re hearing now as well that Iran and Russia are going to be trading in local currencies and dropping the dollar and more crypto exchanges are also delisting privacy

Coins we got a lot of uh stuff to cover in today’s video this is the cryptoviser podcast we talk about everything crypto blockchain investing every single day of the year since 2018 so make sure you guys give the video a thumbs up hit that subscribe button and let’s get right

Into it India is going to be blocking eurs of Kraken binance and seven other crypto firms their financial intelligent unit wants the ministry of electronics and information technology to block the URLs of nine crypto exchanges this would block binance Kraken huobi kucoin bitrex gate.io bitstamp bitfinex and mexc

Global after claiming that the virtual asset service providers were operating illegally and didn’t comply with the prevention of money laundering act India has been working to align crypto with its traditional financial sector having mandated earlier in 2023 that crypto companies must collect know your customer information and at the same

Time mandating that crypto firms register with the financial intelligence unit and so there’s currently 31 entities registered with that Financial uh regulator several offshore entities though catering to a substantial part of Indian users were not getting registered and coming under the AML and uh CFT framework the financial unit issued a

Show cause notice to nine blocked virtual asset service providers according to a press release and it’s unclear what ramifications they’re going to be uh other than blocking URLs if they fail to register so you can see that we’re you know around the world in the US in Asia in Europe we’re starting

To see really more of a focus on you know regulated cryptocurrency regulated cryptocurrency trading and we knew this was coming I mean guys once the the big money in the world decided that they’re going to enter the Bitcoin ETF game and all of that it should have become very

Clear the next step is now that we’re going to probably start to see Nation starting to acquire Bitcoin similar to what we’re seeing in El Salvador and potentially some other countries in the coming bull market and cycle but this as we’re now hearing that Iran and Russia

Are going to be dropping the US dollar instead trading in local currencies this from the end of 2023 Iran and Russia have finalized an agreement to trade their local currencies instead of the US dollar this agreement was finalized during a meeting between the governors of the two countries central banks in

Russia both Iran and Russia are subject to us sanctions bank and economic actors can now use infrastructures including nons Swift interbank systems to deal in local currencies so again this is the uh you know continued move that we’re seeing away from the dollar and the issue here is that really most Americans don’t

Realize this is going on they they don’t see an immediate effect right and so one of the things that we do in macro analysis of these markets is we have to really look at what’s happening around the world to determine what’s going to happen in local markets whether you’re

In Europe Asia Russia wherever or the US these Global macro markets do have an effect right when we see that there’s uncertainty because of geopolitical conflicts what happens to the markets they drop and so the this dollar or D dollarization that we’re seeing going on this kind of a little bit uh resistance

To cryptocurrencies for some reason uh at least nonfully regulated in those individual countries um um it seems like we’re starting to see more acceleration of the changing of the world orders and really the financial monetary system right most people don’t have any concept of money to begin with let alone do

People have the concept of you know the change of money or how rapidly people are going to feel those changes I mean we’re already starting to see where you know other areas of the world are all about developing you know if you look at Saudi uh the Saudi region uh United Arab

Emirates Dubai Singapore even in China I mean these areas have seen immense growth technological growth uh real estate growth business growth and if you look at you know people on you just go on YouTube and just type in you know Shanghai China type in Singapore type in

And just look at people who are who are visiting these areas at how advanced these cities are compared to what’s happening in Europe and the US and so we’re also hearing that okay X the second largest offshore exchange announced that it will delist almost all privacy tokens they’re going to be

Suspending um trading at the end of December for these individual coins including Dash zcash Zen XMR Etc these are all of the uh trading pairs that are going to be coming down now this is not that big of a deal in my view I mean we

See D listings happening all the time in crypto I think it’s just a further iteration of what the first news story that we cover today where India is also trying to get regulated and kind of in line with you know some kind of framework for this new Financial

System and it seems like other areas of the world are also asking for the same thing and then the the exchanges you know obviously want to comply as much as possible to continue their business and so they’re going to be delisting these coins I don’t we don’t really see too

Much focus on privacy coins in the US um you know some I mean I think even Gemini is uh is a big backer of one of the uh I think it’s zcash so we don’t really see a big issue there within the US really focusing on this but it’s just a again

Going back to the the changing of what money means in the US around the world with the dollar is the dollar going to continue to maintain dominance I don’t know but uh it seems like crypto is definitely in the crosshairs to become the new Global Financial ecosystem or at

Least a big part of it so I want to know what you guys think about all of this what you think about is happening in India Iran Russia China the US Africa with the you know the ever evolving story of cryptocurrencies in this new Financial world one of the things that

I’m super excited about is that we are literally watching the changing of something that it doesn’t happen that often right you don’t see a new money being formed and being decentrally distributed amongst people and I’m specifically talking about Bitcoin but you could think about this for all the

Other currencies but really Bitcoin is what the world needs right everything else is is being built on top of it and adding new functionality to the financial system to you know businesses Etc but really Bitcoin is is the original right non-controlled money not government controlled cam printed uh

Limited Supply Etc it’s unbelievable to see how this is all kind of rolling out how now the governments are getting involved then we’re going to see central banks getting involved then the businesses are going to start buying into this hedge funds Pension funds Etc and we’re seeing that with the roll out

Of Bitcoin ETFs this kind of alignment around the world with the financial Regulators to get a lot of these crypto exchanges kind of in somewhat of a of a similar framework around the world you know a lot of these areas of the world they may do a little things different

Here or there the general framework is the same right know your customer anti-money wandering and making sure that customers are protected anyway hopefully you guys enjoyed today’s video if you did don’t forget to hit subscribe turn on notifications that way you never miss a new video and give the video a

Free thumbs up I’ll see you tomorrow invest responsibly do your own research and crypto on