Re: What could be the future of Indian Crypto Traders and Investors

Quote from: talkoncrypto Official on Today at 04:36:57 AM

Hi

After Wazirx been scrutinized by ED (Enforcement Directorate ) , another exchange which has been raided by ED is Coinswitch Kuber

https://www.businesstoday.in/crypto/story/ed-raids-5-premises-linked-to-crypto-exchange-coinswitch-kuber-including-ceos-residence-345606-2022-08-26

Q1) What could be the future of Indian Crypto Traders and Investors

Q2) Are all these exchanges involved in Money Laundering or some kind of illicit Activities

Q3) They are providing instant loan from their liquidation which is ultimately people's money

Read more at:
https://economictimes.indiatimes.com/tech/technology/ed-searches-coinswitch-kubers-five-locations-under-money-laundering-probe/articleshow/93784283.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Q4) Does these exchanges working without any license or legal approvals

Q5) Are other existing exchanges fall under the same category

Q6) Is it the time for people to switch to peer to peer

In summary, India is one of the countries that do not hide their dislike for crypto, which to me is gross and caused by a lack of proper education about cryptocurrency. What I believe any reasonable government should do is regulate it effectively so that they don't deprive their citizen of the benefits that crypto brings.

Also, we should not be ignorant of the illegality of the exchanges others dealing with cryptocurrency as well which no serious government would accommodate. However, I fear for the future of crypto in the country if the Cryptocurrency and Regulation of Official Digital Currency Bill of 2021 are finally assented to by the president. The bill will prohibit all the private cryptocurrency companies in the country and the case will be like that of Nigeria. So, P2P may then be the other of the day.