Currently, India and Indo-Pacific countries have blocked many Centralized Exchanges (CEX) and now Europe and The US may block the top 10 crypto exchanges due to the impact of Binance, FTX, and LUNA as the power to block. Top countries like India have also taken this step like the US and Europe due to which there are problems between SEC and Bitcoin ETFs in the US and MiCA and Banks in Europe. And due to all these, to make Digital Rupees powerful again, India can ban or block offshore crypto exchanges and local crypto exchanges because the US and Europe are also trying unsuccessfully to create a tax collection, centralized government-controlled system. Because now many countries around the world have also recognized that Crypto and Billions of Trillions of USD are traded annually, Investors, traders, or institutions are also ready to take such huge risks on Bitcoin and Crypto.
Why are SEC, US, Europe, and Indian governments blocking CEX (Centralized Crypto Exchanges) in 2024?
In all this, now governments around the world are tightening the noose on crypto, just as they had recently tightened the noose on Binance, FTX, and Coinbase. Because such tightening of screws can have a huge impact on the portfolios, management, and funds of crypto, forex, and digital investors. Although many big crypto investors have withdrawn their funds and investments from Centralized Crypto Exchanges (CEX) still many investors want to keep their funds on Centralized Crypto Exchanges so that they can easily buy and sell crypto/fiat in the future. And then the CEO or Founder who is working on GrayScale, Coinbase, and Crypto Exchanges is also saddened by his previous scam and hence he is resigning before the SEC gets hold of BitcoinETFs. And SEC can take action on many crypto exchanges to make Bitcoin and Crypto secure as commodities like Binance, Bitfinex, OKX, Huobi, Kucoin, Bittrex, Gate․io, Bitstamp, and Bybit. The US and SEC can crack down on the centralized system.
Why US and Europe block 10 crypto exchanges in 2024 amid Bitcoin ETF approvals?
By the way, now US SEC targets are Karken, Binance, Gemini, Coincheck, Coinbase, Bybit, Bitfinex, Binance.US, Bitget, and Gate.io to allow government shares, revenues, and capital gain taxes before Bitcoin ETFs get approved. Similarly to Hong Kong, China, Japan, South Korea, Indonesia, Nigeria, the US, Canada, Europe, and the African Union, many crypto exchanges can take various actions due to government regulations. Because now there is development in the daily trade, investments, and funds of Crypto and Bitcoin and Billions of USD, it is necessary for all the countries of the world to fully guarantee the crypto and Bitcoin funds in the digital future. So in such a situation, even now big actions are being taken against picking so that in the future no unknown wallets can manipulate the Bitcoin and crypto market.