Financial Intelligence Unit India (FIU IND) issues compliance Show Cause Notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs). FIU IND writes to Ministry of Electronics and Information Technology to block URLs of the nine entities operating illegally without complying with the provisions of PML Act in India.
India is not the first country to try to put an end to Bitcoin adoption or it's use in their respective nations, and will definitely not be the last, since Bitcoin happens to a currency which both government, nor individual has no control over it, hence, they they would have like to block it, so as to discourage users from investing in Bitcoin, but however, this will only indirectly promote the use of VPN by all crypto enthusiast who can't afford to lose their business due to this new policy made by the Indian governments.
But however, lets see how this new policy unfolds as we approaches 2024.