India To Block Crypto Exchange Binance, Kraken Websites

Financial Intelligence Unit, an Indian government agency which scrutinizes financial transactions, said Thursday nine global crypto exchanges -- including Binance, Kraken, Kucoin and Mexc -- are operating "illegally" in the country without complying with the local anti-money laundering act and asked the IT Ministry to block their websites. From a report: FIU said it has issued show cause notices to all nine firms. Global crypto exchanges are required to comply with India's anti-money laundering rules and cannot evade the guidelines just because they don't have physical presence in the country, the government agency said.

developing world reveals the truth about blockchai

[heytombanjo]

if crypto had something significant to offer beyond money laundering and evasion of other financial regulation, you wouldn't be seeing moves like this by countries like India. every other use case is better served by centralized ledgers and services.

Follow the blockchain

[xack]

Who are the banks still offering transfers to crypto exchanges, who is still allowing cash withdrawals from exchanges. Who are the VPNs that still allow access to them? You may just find that the maniac is in the mailbox.

Smart

[rsilvergun]

there's no assets here. Nothing but ponzi scams and money laundering. But the US is flirting with allowing crypto "currency" to be bundled into securities that can be traded on markets.

Remember 2008 when we did that with mortgages? Now try to imagine the collapse when instead of houses backing those securities there's nothing but imaginary funny-money...

India is wisely steering clear. If the US is dumb/corrupt enough to allow this disaster India'll dragged in, but they'll recover much faster from th