What do the crypto users in India do after the foreign crypto exchanges are banned?

Dear Readers,
You are very aware if you are in India or tracking closely the crypto regulations in India that the following show case notice by Finance Intelligent Unit- India, a part of the Finance Ministry to the foreign based crypto exchanges in Dec 28, 2023 to comply to the Anti Money Laundering/ Counter Financing of Terrorism (AML CFT) as they have not registered; all the foreign crypto exchange URLs were blocked by the Ministry of Electronics and Information Technology.

Let's update on what the crypto users who use the foreign crypto exchanges for trading and investing in the crypto markets.

With the fear in mind, few users were switched back to the Indian Crypto Exchanges. 
Most of the users access the sites through VPNs. Binance indeed requested its users not to use VPNs as the accounts would be blocked automatically by their security systems identify them by accessing from multiple IPs. They have given alternate domains like binance.me, binance.info etc., but subsequently they have also been blocked. 

At present the users who use the Android apps. But, if the Indian Government block the URLs of the APIs of the respective apps, this seems to be a problem in accessing the apps.
Still many users access these sites through VPNs. 

On the other sides, these foreign exchanges are working to register with the Indian Frame work. If they are registered, their URLs would be functional and there will not be any problems with the Indian crypto users. If the foreign exchanges would be registered, there will be the tax liability for the investors again as India has levied 1% TdS for all the Virtual Digital Assets/ crypto transactions and the gain would be taxed at 30%. 

The Reserve Bank of India often given cautious notion again the cryptocurrencies. 
With the last year budget considered to be heavy blow for the crypto users in India, the crypto users also expect and foresee any new things/ additionalities in the forthcoming interim Indian budget in Feb 2024 on Cryptocurrencies. 

First appeared on publish0x.