Indian Crypto Leaders Applaud Foreign Exchange Site Bans
Leaders within India’s crypto community have largely welcomed the country’s decision to block websites of international crypto exchanges, including Binance, Huobi, and KuCoin. Nischal Shetty, the CEO of Indian exchange WazirX, has labeled this step as a move “towards greater regulatory clarity and control”.
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Leaders within India's crypto community have largely welcomed the country's decision to block websites of international crypto exchanges, including Binance, Huobi, and KuCoin. Nischal Shetty, the CEO of Indian exchange WazirX, has labeled this step as a move “towards greater regulatory clarity and control”.
He believes that this is a necessary step for the advancement of India's crypto industry. Echoing this view is Aditya Singh, founder of Crypto India, who sees it as an opportunity to encourage foreign exchanges to acquire Indian licenses and operate legally within the country.
However, some international users reacted aggressively to the ban, urging Indian citizens to use VPNs to circumvent the restrictions. For instance, the owner of the YouTube channel Ivan on Tech believes that such governmental actions demonstrate the impossibility of imposing restrictions on cryptocurrency.
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