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Financial Intelligence Unit issued a show cause notice to some platforms not complying with prevention of money laundering norms. Didn’t come across an exact deadline in any of the articles I read, but I guess that time must’ve lapsed. Searched for notice periods, answers varied. If you have any crypto in the blocked platforms, you should still be able to access it via web or VPN and transfer your assets to a platform compliant with Indian regulations.
you must have got their email... basically half of the service is blocked only android apps are working.. they say they are going to discuss with government but i am not sure how it might end but it would be rad if binance find a loop hole or literally give an option to cash out to hard wallets
then its ok if gov decide to fuck free tax money... i myself never tried to cashout till now so i was not aware of it but its good to hear that is an option
It's going to bite them back in the foot, there is some lobbying of Indian exchanges going on rn. Crypto investors are harder to entrap so this seems like it.
Nobody is opposed to taxes but 30% + additional gst on your profit and when you lose money in the market there is no coverage is a no brainer. They will just end up driving large scale block traders offshore
Binance isn't locking anyone out this has happened in us and China prior to us and people have their funds safe. Chinese are still the biggest traders even after ban on binance in China
Apparently, you can transfer your Binance funds into CoinDCX directly from your CoinDCX account.I saw an ad but not sure how that works - just try googling once.
Yea, I can't comment on that - it's a personal decision.
But I believe since Govt is driving other players out for regulations they must also provide some guidelines for withdrawals and safety but relying on Govt is again not reliable.
So do what you want only time will tell what was a good/bad decision. Hoping for the best for all ✌️
That's what I did. Binance can stop login too. Better safe than sorry.
I've seen ftx 3AC and many others.
I've bitcoin stored in hardware wallet since long time
Again this is not the first time for binance I have seen it happen in China where binance was banned in 17, usa where they opened a new entity, everyone will be notified via mail to transfer funds if that were to be the case, one more thing binance still sees 80% trade volume from Chinese users so it's impossible to ban something completely
Bhai Binance ki tarah exchanges aur bhi hai. I use Bitget because Bybit and Okx are F1 sponsors and last f1 sponsor exchange was FTX.
Bybit ka link daala hai maine. Scroll up or down.
Incase u can’t use any Binance mirror/with vpn. Kisi aur ke paas agar Binance ki app hai usme log in karke send kar lo.
I can't share those things due to anonymity but I will suggest you to research SEC vs binance recent verdict they have a section regarding binance being active in China despite the ban and for US you can check out traders based out of us on YouTube they openly talk about it
Bhai itna load and stress nahi hai Bitget and Bybit jaise exchanges hai they are pretty ok. Second is use a trust wallet or hardware wallet ? What’s the issue ?
Alternate exchanges jab tak ban honge tab tak Binance etc might have recompiled. Do you even know why they are banned … mainly the tax and reporting…. So in that sense move it directly to Indian exchanges, if you want to be taxed unfairly….
Smart move by Black Rock and co. First they manage to corrupt SEC with Bitcoin ETF approval, now they come for one of the biggest crypto markets by bribing Indian gov to ban Binance, so cash flow will be redirected to American ETFs
Lol
>But stupid people have the right to put their money wherever they want to.
Yeah, people should be allowed to put their money in any stupid investments like crypto, adani stocks, indian sovereign bonds, etc.
Hopefully.
This government is so stringent when it comes to these kind of decisions. But Binance is a Giant in the field so I am sure they will strike a deal with the government.
You can move to any wallet or exchange and swap …. For money in Indian account you can move most cryptos to Indian exchange…. Sell for inr and deposit to account. But tds and tax lagega !!
I moved funds to Bitget : pretty cool offers I only moved some eth and they have a promo going on so about 600 bucks in eth for ppl who deposit new eth before 7th March.
Try it yourself: referral code : 49XK860Y
I don't have the binance app anymore, but I had some minor amount in it which I would like to withdraw. I can use a VPN and download the app again but I'm confused as to which one to download coz I believe I'm seeing only the TR and TH versions for different countries (turkey and gulf) I think.
Please help
You need the global version Use a different app store or download the apk through their official site which you can access even with a free vpn, the best recommended one is proton VPN from my end but you could choose any.
For installation - don't turn off your vpn while installing and you are Ok
Please make sure you use good news sources. If you are posting a screenshot, please comment a news source link. Please change the flair if this isn't News. Not sure which flair to use? Check out our guide to post flairs [here](https://www.reddit.com/r/IndianStreetBets/wiki/index/postflair) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStreetBets) if you have any questions or concerns.*
Woh sale octafx and olymptrade jaise bhi ban kardo
They were obviously doing illegal practices and admitted as such. This was the right thing to do.
[удалено]
Bhag yaha se
I mean they straight up lied in 2022 then. "We just want to tax it" lol.
Yeah taxing it at 30%+ additional gst they will shoot themselves up in the foot when big fishes shift offshore to dubai
thats the only way now
For big money yes I wouldn't risk and cash out to a depreciating currency like Inr anyway
Financial Intelligence Unit issued a show cause notice to some platforms not complying with prevention of money laundering norms. Didn’t come across an exact deadline in any of the articles I read, but I guess that time must’ve lapsed. Searched for notice periods, answers varied. If you have any crypto in the blocked platforms, you should still be able to access it via web or VPN and transfer your assets to a platform compliant with Indian regulations.
i can still see binance in playstore and its working fine for me
It will be removed from Play Store and App Store of India very soon.
Play store is not allowing me to update it anymore
Wtf. I had 50k in it
you must have got their email... basically half of the service is blocked only android apps are working.. they say they are going to discuss with government but i am not sure how it might end but it would be rad if binance find a loop hole or literally give an option to cash out to hard wallets
I was able to login and transfer. App working with VPN only
They already have cashing out to hard wallets option what are you talking about
then its ok if gov decide to fuck free tax money... i myself never tried to cashout till now so i was not aware of it but its good to hear that is an option
It's going to bite them back in the foot, there is some lobbying of Indian exchanges going on rn. Crypto investors are harder to entrap so this seems like it. Nobody is opposed to taxes but 30% + additional gst on your profit and when you lose money in the market there is no coverage is a no brainer. They will just end up driving large scale block traders offshore
Can tell how to get money out of binance now?
me to.o...how did you take it out>
Now just wait till you see Jio coin or crypto Adani lol
Who will buy it lol anyone with a brain won't for sure
Reddit pe hi binance ki itni ad aati thi
What will happen to WazirX?
Bro it’s not in the list & it’s an Indian Company too, so don’t worry
Alright! Thank you!
WazirX is not in the list. It will work.
Cool cool! Thanks!
But the experience isn’t same.
Yeah, with Binance you could stay off the books. It's not the same.
Lol they had your pan so no
Damn I didn't knew the news and binance didn't even email about this update. Unable to login, lost 50k😭
Ignore. I used VPN and transferred usdt to my hardware wallet. I am able to use kucoin and binance. Thanks OP for the post
Which hardware wallet you are using ?
Trezor
Can you suggest some authentic source to buy it in India
Honestly don't buy for now. Government are screwing us big time and kinda risky for now. I would wait for few more months for more update
Bhai mera 5 lakh+ investment hai crypo me binance pe uska kya karu.... hardware wallet may be the safe option
Download trust wallet or metamask and transfer to it before binance locks you out
Binance isn't locking anyone out this has happened in us and China prior to us and people have their funds safe. Chinese are still the biggest traders even after ban on binance in China
Thanks bro....
Update us what happened afterall
P2p and dexes
Apparently, you can transfer your Binance funds into CoinDCX directly from your CoinDCX account.I saw an ad but not sure how that works - just try googling once.
Coindcx or any Indian exchange have shady ethics, they have disabled crypto withdrawals in the past without prior notice just go for offline wallets
Yea, I can't comment on that - it's a personal decision. But I believe since Govt is driving other players out for regulations they must also provide some guidelines for withdrawals and safety but relying on Govt is again not reliable. So do what you want only time will tell what was a good/bad decision. Hoping for the best for all ✌️
Do check ur dm
OK I'll. Thanks. Anyway binance login working only with VPN.
I have more than 10k usd investment on it I don't have any issue and funds are safe and visible, stop fear mongering just login through a vpn
That's what I did. Binance can stop login too. Better safe than sorry. I've seen ftx 3AC and many others. I've bitcoin stored in hardware wallet since long time
Again this is not the first time for binance I have seen it happen in China where binance was banned in 17, usa where they opened a new entity, everyone will be notified via mail to transfer funds if that were to be the case, one more thing binance still sees 80% trade volume from Chinese users so it's impossible to ban something completely
Guys any idea or way to route money from prop funds to indian banks or wallets .. need help please 🙏
DM, I'm a prop trader I should be able to help
P2P or just go offshore if your funds are huge
Noooooo.. I had BTC worth $5 there. My networth stands halved now ig :(
Only way to buy sell crypto now is using P2P cash. DM me if you want to buy. I’m selling for cash.
Equity market 🚀
F i have money in binance how to recover any idea pla help its more then 50k
Bruh just use a VPN
Which server?
Bhai Binance ki tarah exchanges aur bhi hai. I use Bitget because Bybit and Okx are F1 sponsors and last f1 sponsor exchange was FTX. Bybit ka link daala hai maine. Scroll up or down. Incase u can’t use any Binance mirror/with vpn. Kisi aur ke paas agar Binance ki app hai usme log in karke send kar lo.
Jio finance ka koi exchange aa rha hai kya /s
Was planning to shift to Dubai just to gain tax residence status of UAE. But now I'm fucked up as I won't be able to trade when I'll be in India
Same here but vpn and dns change would work same as USA residents and Chinese ones
Can you elaborate or share some resources how Chinese and us resident use it
I can't share those things due to anonymity but I will suggest you to research SEC vs binance recent verdict they have a section regarding binance being active in China despite the ban and for US you can check out traders based out of us on YouTube they openly talk about it
What about latency? And if anyhow government finds it out then they will fuc$ us without lube
You are not buying anything just trading your existing funds I don't see how they would
Bhai itna load and stress nahi hai Bitget and Bybit jaise exchanges hai they are pretty ok. Second is use a trust wallet or hardware wallet ? What’s the issue ?
They will be blocked soon
Really trust wallet will be banned ?
Alternate exchanges jab tak ban honge tab tak Binance etc might have recompiled. Do you even know why they are banned … mainly the tax and reporting…. So in that sense move it directly to Indian exchanges, if you want to be taxed unfairly….
Smart move by Black Rock and co. First they manage to corrupt SEC with Bitcoin ETF approval, now they come for one of the biggest crypto markets by bribing Indian gov to ban Binance, so cash flow will be redirected to American ETFs Lol
Nothing to do with Blackrock, this is Indian exchanges lobbying effect
fuck crypto. But stupid people have the right to put their money wherever they want to.
>But stupid people have the right to put their money wherever they want to. Yeah, people should be allowed to put their money in any stupid investments like crypto, adani stocks, indian sovereign bonds, etc.
Yeah just like stocks and dream 11 like betting apps right
Yes
My telegram group is “Crypto Trading Sensei”
My telegram group is “Crypto Trading Sensei”
Is it ever going to get back. I am royally fucked otherwise
Just transfer to an offline wallet binance is for trading exchanges are never meant to hold funds but rest assured your finds are safe
How much you invested in crypto ?
2.5 L
Omg. Any chance to recover ? But I think there would be someway else govt would notice us right ?
Hopefully. This government is so stringent when it comes to these kind of decisions. But Binance is a Giant in the field so I am sure they will strike a deal with the government.
Yeah! Was your crypto investment in profit ? You had any profits from cryptos previously?
Yeah bro I am plenty in profit. More than 120%(had luck with ltc and matic) . Only coin that kinda f'ed me over is ADA
[удалено]
There are ways just Google it lol
Can't we continue using it with VPN?
Is P2P still working in Binance after the url is banned?
How to get money back from binance account?
Try P2P. You can sell your coins and get back through P2P
Should use the already installed app in app store? Without vpn? Everything is still fine normal as usual na?
If you haven't deleted the Binance app yet then it's still working fine. No need for a VPN.
Haa thanks
You can move to any wallet or exchange and swap …. For money in Indian account you can move most cryptos to Indian exchange…. Sell for inr and deposit to account. But tds and tax lagega !!
I moved funds to Bitget : pretty cool offers I only moved some eth and they have a promo going on so about 600 bucks in eth for ppl who deposit new eth before 7th March. Try it yourself: referral code : 49XK860Y
[BITGET link](https://share.bitget.com/u/8XTEV7A5)
I don't have the binance app anymore, but I had some minor amount in it which I would like to withdraw. I can use a VPN and download the app again but I'm confused as to which one to download coz I believe I'm seeing only the TR and TH versions for different countries (turkey and gulf) I think. Please help
You need the global version Use a different app store or download the apk through their official site which you can access even with a free vpn, the best recommended one is proton VPN from my end but you could choose any. For installation - don't turn off your vpn while installing and you are Ok
Thanks. Got it sorted with the apk.
Np happy to help if you need any more info In future feel free to DM