Currently, the Indian government has blocked the URLs of the world’s top Crypto Exchanges due to which many Indian investors are withdrawing money from foreign crypto exchanges. Because currently the URLs of Binance and KuCoin have been banned from Apple’s IOS and Web Browser in Asian countries against India, now it seems that almost all the foreign crypto exchanges outside India can also be blocked. It also looks like now billions of USD from Indian crypto and wallet dex on WazirX can move to WazirX and top Indian crypto exchanges. Currently, the Indian Government has admitted that Binance and KuCoin are being banned in the US due to non-custodian issues, now it seems that in the future Binance can be banned in other big countries due to which there can be huge manipulation in the market. Because now it is also believed that India can now regulate the top Indian crypto exchanges due to which Indians can invest in Bitcoin, Ethereum, WRX, Solana, and Dogecoin with full risk.
Why WazirX (WRX) coin will reach $1 USD amid India-banned Binance and KuCoin?
Currently, after Binance and KuCoin were banned by the authority of India, now it seems that in the future, it seems the Indian Rupee can improve with the help of Bitcoin and Cryptocurrency and other Web3, DeFi, and Blockchain developments in India. Similarly, there are no government taxes, charges, or fees of any kind on Binance and KuCoin, hence the Indian Government wants to regulate Indian Crypto Exchanges and can also regulate INR (Indian Rupees) and National Forex Reserves. Also, the Indian government will collect billions of rupees in taxes through crypto tax which includes customs, Taxes, and International forex conversion taxes. It is also believed that India’s SEBI (Securities and Exchange Board of India) can regulate Bitcoin and Crypto Exchanges along with Stocks with certain conditions. Now it seems that after this action of the Indian Government, it seems that in the future, Wazirx Crypto Exchange is going to get big investment from India.