China invades India through crypto route

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China invades India through crypto route

If you have a solid understanding of geopolitics, then you are aware of the tensions that exist between India and China, whether those tensions are based on territorial disputes or economic concerns. As a result of the fact that these two countries each have one of the world’s largest markets, competition between them is constant. And because the entire world is increasingly adopting cryptocurrency these days, the competition has also shifted to focus on this area, and China is currently playing a trick on India. Wanna know the whole matter in detail? So in this case, you are at the correct place, CRYPTO WORLD where we update your crypto knowledge.
The Indian government, which abruptly shut down TikTok, does not appear to have made up its mind about whether or not to allow cryptocurrency exchanges like Binance, KuCoin, WazirX, Kraken, or Huobi to operate within the country. The majority of these cryptocurrency exchanges either have their roots in China or are led by individuals who are of Chinese descent. Because it violated acceptable standards for user privacy, the government took action against the video-sharing app TikTok. At the same time, bank accounts, Aadhar, Personal Account Numbers (PAN), and other sensitive financial details of the Indian public are being collected by these apps, the origin of which is either directly or indirectly linked to China. These apps are now operating from tax havens.
Additionally, many cryptocurrency exchanges in India receive funding from cryptocurrency exchanges located in other countries. One example of a cryptocurrency exchange with roots in India that Binance is rumored to have purchased is WazirX.
CoinDCX, an Indian cryptocurrency exchange, counts BitMex as one of its investors. BitMex is a cryptocurrency exchange whose founders have recently pleaded guilty to violating anti-money-laundering laws in the United States.
In addition, completely international cryptocurrency exchanges such as KuCoin, Binance, Kraken, and Huobi are all present and active in India. These exchanges make it possible for people in India to purchase cryptocurrencies.

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