India Put Breaks in Foreign Crypto Exchanges
Jan, 2024

India Put Breaks in Foreign Crypto Exchanges

The story of the days is definitely the approval for the Bitcoin Spot ETF but one of the largest markets in the world, India moved towards an initiative that could change the scene for crypto exchanges.


After a long period of audits and transactions, the respective Committee of the Ministry of Finance in India shut down every crypto exchange that operate without the appropriate license. This move came after the tax of 30 % that has deployed for crypto profits for Indian citizens.


More specifically, 9 crypto exchanges took notice that operate without any license and will shut down immediately for the Indian territory. Between them are Binance, KuCoin and OKX, which are making millions in revenue in the country.


This means that the Indian market will open up even more, as new players will try to gain a market share and dominate against others…


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