Will India Exchanges Have To Move Country?

[Cryptoland]

Will India exchanges close or will try to circumvent the law by moving offshore to stay trading and open?  There has been talk of them moving to Singapore or elsewhere is this going to be the case for such a big market place? 

All regulated financial companies, it said this month, must within 90 days end services to individuals or businesses dealing with bitcoin and other cryptocurrencies using blockchain technology — barring traders from using the bank system to buy or sell virtual currencies for rupees online.

India is not alone against virtual currencies. Nations from Algeria to Bangladesh have prohibited their use. 

New exchanges are cropping up like Alluma.io who are aiming at this emerging marketplace, do they know something that we don't?

[Pursuer]

when China tried regulating their shady exchanges, some of them stopped all their work in China and moved outside of the country and continued there but not with the same power.
in case of India the same thing may happen but also it is worth having in mind that most of the Indian trading volume is coming from P2P trades where people don't even use any exchanges for example when they use localbitcoins to meet and trade. in which case the exchanges have a better chance of staying in the country and be regulated.

[Cryptoland]

when China tried regulating their shady exchanges, some of them stopped all their work in China and moved outside of the country and continued there but not with the same power.
in case of India the same thing may happen but also it is worth having in mind that most of the Indian trading volume is coming from P2P trades where people don't even use any exchanges for example when they use localbitcoins to meet and trade. in which case the exchanges have a better chance of staying in the country and be regulated.

Thats very interesting, but the local trade element must be smaller volumes, how are they going to trade in different coins without an exchange?

[vintages]

It depends, if the indian government  do really have completely ban cryptocurrency,  they might have to state if the exchange should stay or not. Though basically most exchange owners don't need to be told to leave. Immediately there is a restrictions on ICOs or on any cryptocurrency,  they move quickly because most little restrictions will affect their business wholly.

[GoldenLad]

Well, it seems  it might be so cause whenever a government bans cryptocurrency in their countries they are forced to move their exchange to a country or probably a safer place where  the government won't be constantly disturbing their business. Even if they chose to leave it, their government will be forced to personally close it down. The only people that will be affected are those that are using the exchange.