Shadow Ban on Crypto Exchanges

[pawanjain]

No one reports it in our city we still can access some of the big names in the porn industry. I was wondering if Binance plans to change it URL from Binance.com to Binance.desi 

This was good one 

Hoping one of the Binance or other exchange executives takes my suggestion seriously and implements a special extension with Binance for the Indian community to access their platform without any interruption.

I guess binance has heard your suggestion because from the "rumors" I have heard it looks like binance has launched 2 new domains.
Although we haven't received any official update from Binance yet but I have tried the URLs and came to know that we can access those domains.
But I won't recommend using them yet since Binance hasn't officially announced it yet.

The URLs are:
https://www.binance.me/en
https://www.binance.info/en

Do not login or create accounts on these domain yet as we haven't received the official announcement yet.
Keep your funds SAFU.

[1714736558]

1714736558

[Bureau]

I guess binance has heard your suggestion because from the "rumors" I have heard it looks like binance has launched 2 new domains.
Although we haven't received any official update from Binance yet but I have tried the URLs and came to know that we can access those domains.
But I won't recommend using them yet since Binance hasn't officially announced it yet.

The URLs are:
https://www.binance.me/en
https://www.binance.info/en

Do not login or create accounts on these domain yet as we haven't received the official announcement yet.
Keep your funds SAFU.

There isn't any official confirmation by Binance. I doubt they will make it official otherwise the government would again place a ban on these two urls immediately. When you enter these two url on Binance verify they come up as authentic url of Binance. Today in the morning I got a notification from Binance app to update it. I clicked on okay and it got redirected to binance domain which was asking me to download the new apk file but I didn't as I was not sure. Later on I check the version and it was the same as on my device. I think they are testing the apk link.

[pakhitheboss]

I guess binance has heard your suggestion because from the "rumors" I have heard it looks like binance has launched 2 new domains.
Although we haven't received any official update from Binance yet but I have tried the URLs and came to know that we can access those domains.
But I won't recommend using them yet since Binance hasn't officially announced it yet.

The URLs are:
https://www.binance.me/en
https://www.binance.info/en

Do not login or create accounts on these domain yet as we haven't received the official announcement yet.
Keep your funds SAFU.

There isn't any official confirmation by Binance. I doubt they will make it official otherwise the government would again place a ban on these two urls immediately. When you enter these two url on Binance verify they come up as authentic url of Binance. Today in the morning I got a notification from Binance app to update it. I clicked on okay and it got redirected to binance domain which was asking me to download the new apk file but I didn't as I was not sure. Later on I check the version and it was the same as on my device. I think they are testing the apk link.

LOL! It was just a joke and they took it seriously. I never expected them to work on my joke and come up with new URLs. They have already mentioned that anyone caught using VPNs would be banned. This might be a temporary solution while they discuss it with the government of India. I don't think they are planning to run those urls permanently. If they do then I am confident they would have a surplus of Indian users signing up from India to only save TDS. It is the primary reason why the Indian crypto community shifted to international exchanges like Binance.

Next, I am expecting a few more exchanges that have KYC mandatory to come up with the same solution. Most of them are exact copycats of Binance from the day these exchanges came into existence. For example, Kucoin, Huobi, and OKX, all three follow what Binance does whenever there is a sudden change in their policy or if it is related to the listing of new coins.

[libert19]

^ If it is mere TDS people want to save themselves off, they can use Colodax which has 0 TDS on selling since more than a year, that is if they are comfortable with selling prices there cause Colodax has huge spread between buy and sell price.



Read: https://colodax.freshdesk.com/support/solutions/articles/47001229074-ganesh-chaturthi-offer (it says Ganesh Chaturthi offer but they have extended it for indefinite amount of time).

[pakhitheboss]

Got the following message when I opened the Binance app today.



When I clicked on update it took me to Binance.me and asked me to download the updated apk file. Now, it is confirmed that those domain names were created for the Indian community in case if the situation gets bitter with the Indian government. Anyone here experienced the same thing like I did today. I mean did you guys get the same update message and were to directed to any of the domain name as informed by pawanjain in his reply.

[pawanjain]

Got the following message when I opened the Binance app today.
~snip

When I clicked on update it took me to Binance.me and asked me to download the updated apk file. Now, it is confirmed that those domain names were created for the Indian community in case if the situation gets bitter with the Indian government. Anyone here experienced the same thing like I did today. I mean did you guys get the same update message and were to directed to any of the domain name as informed by pawanjain in his reply.

Hey Yes !

After reading your post I had just opened my binance app and got the same notification and a button to update the app.
Upon clicking the button it took me to binance.me domain and a popup was displayed to download an apk file.

[Bureau]

Got the following message when I opened the Binance app today.
~snip

When I clicked on update it took me to Binance.me and asked me to download the updated apk file. Now, it is confirmed that those domain names were created for the Indian community in case if the situation gets bitter with the Indian government. Anyone here experienced the same thing like I did today. I mean did you guys get the same update message and were to directed to any of the domain name as informed by pawanjain in his reply.

Hey Yes !

After reading your post I had just opened my binance app and got the same notification and a button to update the app.
Upon clicking the button it took me to binance.me domain and a popup was displayed to download an apk file.

I haven't opened the app before but after reading the replies on this thread I did open it and got the same information. So, it is clear now that Binance.me is meant for the Indian community until they resolve the issue with the government. I still have a feeling that Binance wont agree with the government on the topic of AML and would continue in the same manner. Any news about other exchanges that have been banned by the Indian government?

[pakhitheboss]

snip..

I haven't opened the app before but after reading the replies on this thread I did open it and got the same information. So, it is clear now that Binance.me is meant for the Indian community until they resolve the issue with the government. I still have a feeling that Binance wont agree with the government on the topic of AML and would continue in the same manner. Any news about other exchanges that have been banned by the Indian government?

So, after reading both of your replies I feel that I did not do anything wrong. After asking my question I went ahead and checked a few Indian subreddits and there I did find someone asking the same question. Coming back to your reply @Bureau I am also clueless as to what other exchanges are doing after the URL ban. Till now most of us can access their apps on our mobile phones and I guess unless they stop working these exchanges other than Binance won't come out with a solution. I think only Binance has the biggest Indian user base and all other exchanges have fewer Indian users. They are not bothered with new Indian registration as they know the situation in India is not that positive for new users to invest in cryptocurrency or Bitcoin. I am only waiting to see what happens when Bitcoin bull runs start and it creates a new ATH.

[pawanjain]

snip..

I haven't opened the app before but after reading the replies on this thread I did open it and got the same information. So, it is clear now that Binance.me is meant for the Indian community until they resolve the issue with the government. I still have a feeling that Binance wont agree with the government on the topic of AML and would continue in the same manner. Any news about other exchanges that have been banned by the Indian government?

So, after reading both of your replies I feel that I did not do anything wrong. After asking my question I went ahead and checked a few Indian subreddits and there I did find someone asking the same question. Coming back to your reply @Bureau I am also clueless as to what other exchanges are doing after the URL ban. Till now most of us can access their apps on our mobile phones and I guess unless they stop working these exchanges other than Binance won't come out with a solution. I think only Binance has the biggest Indian user base and all other exchanges have fewer Indian users. They are not bothered with new Indian registration as they know the situation in India is not that positive for new users to invest in cryptocurrency or Bitcoin. I am only waiting to see what happens when Bitcoin bull runs start and it creates a new ATH.

You're right when you say that only Binance has shown some signs of working towards the solution because we haven't received any news from other exchanges yet.
India has the most number of crypto users from the world and Binance is currently the largest exchange and so it the chances are high that Binance would be having the largest crypto user base from India.
It would not want to lose that user base and that is the reason why it is working with the regulators for clearing the AML policies.

@Bureau Binance has already announced that they are working with the regulators for clearing the AML policies and so Binance.me looks more like a temporary solution for the time being.

[Bitcoin Smith]

You're right when you say that only Binance has shown some signs of working towards the solution because we haven't received any news from other exchanges yet.
India has the most number of crypto users from the world and Binance is currently the largest exchange and so it the chances are high that Binance would be having the largest crypto user base from India.
It would not want to lose that user base and that is the reason why it is working with the regulators for clearing the AML policies.

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

[pakhitheboss]

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

I remember this event as it came in the mainstream media and they as in Binance did pay a good amount for acquiring WazirX. There have been too many controversies associated with WazirX from the beginning as I remember they lured new customers by promising free WRX airdrop in the initial days. Then after they got a good response they retracted and said they would give a discount on the trading fee. The whole idea and the inception of this exchange is full of controversies and thankfully I was not part of it. BTW, they and CoinDCX are the reason why the government of India initiated an AML policy against the International exchanges. They had formed a consortium and met with a few MPs before the last parliament session asking them to ask the government why international exchanges are not following the AML policy and why they are not charging TDS.

[pawanjain]

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

I remember this event as it came in the mainstream media and they as in Binance did pay a good amount for acquiring WazirX. There have been too many controversies associated with WazirX from the beginning as I remember they lured new customers by promising free WRX airdrop in the initial days. Then after they got a good response they retracted and said they would give a discount on the trading fee. The whole idea and the inception of this exchange is full of controversies and thankfully I was not part of it. BTW, they and CoinDCX are the reason why the government of India initiated an AML policy against the International exchanges. They had formed a consortium and met with a few MPs before the last parliament session asking them to ask the government why international exchanges are not following the AML policy and why they are not charging TDS.

I am not sure about luring customers to WazirX but I was myself one of the early users of WazirX.
I had even got the free airdrop from which I didn't even knew. It was just there lying in my wallet.
Later I saw the price of WRX and started withdrawing it. Got a nice stash around 15k INR 

[kentrolla]

You're right when you say that only Binance has shown some signs of working towards the solution because we haven't received any news from other exchanges yet.
India has the most number of crypto users from the world and Binance is currently the largest exchange and so it the chances are high that Binance would be having the largest crypto user base from India.
It would not want to lose that user base and that is the reason why it is working with the regulators for clearing the AML policies.

Binance tried to came into the Indian market in 2019 itself when they acquired wazirx an Indian exchange but later in 2022 there are some conflicts raised and Binance announced wazirx is not part of Binance and the Indian 30% tax pushed the users to choose Binance over Indian exchanges and I guess you are right Binance is having huge userbase from India too that is why they are working towards to settle this issue.

Yes Binance would never want to lose it's huge user base in India but there are multiple challenges which Binance is currently facing as it has to convince or furnish a solution by working with the regulators and local Indian exchanges like CoinDCX, WazirX and CoinSwitch, etc are one of the worst exchanges who has been sucking money out of people in the name of maker and taker fee which are 5 times more than any international exchange and they are lifting balls of regulator since Indian users will be forced to use these exchanges.

Hope Binance cuts a deal and this is sorted because no one can sustain such high TDS and tax if forced to use Indian Exchanges.

[Bitcoin Smith]

I am not sure about luring customers to WazirX but I was myself one of the early users of WazirX.
I had even got the free airdrop from which I didn't even knew. It was just there lying in my wallet.
Later I saw the price of WRX and started withdrawing it. Got a nice stash around 15k INR 

Same here too, I had the habit of converting the dust balance of my coins to WRX and one day the price boomed like 100x? I don't really remember but that is the last day I ever held WRX and I didn't hesitate to cash out the profit which is like 10K if I am right.


Indian exchanges are behind this URL ban? That is a new info.

[pawanjain]

Indian exchanges are behind this URL ban? That is a new info.

Yes, didn't you know that local exchanges complained to the regulators that while they are following the AML policies and regulation the international exchanges are keeping away with it.
This is the reason why international exchanges were said to follow the AML policies and otherwise face a shadow ban.
This is why Binance is now forced to accept the AML policies by Indian government.

[pakhitheboss]

Indian exchanges are behind this URL ban? That is a new info.

Yes, didn't you know that local exchanges complained to the regulators that while they are following the AML policies and regulation the international exchanges are keeping away with it.
This is the reason why international exchanges were said to follow the AML policies and otherwise face a shadow ban.
This is why Binance is now forced to accept the AML policies by Indian government.

Yeah, you are right these local exchanges are the reason why we are in this situation. What I don't understand is rather doing such a shit show the government could have incentivized or these local exchanges could have offered some incentives for getting users back. The approach that they have taken now will be temporarily accepted. In the long run, the local exchanges would lose their customer base as many users would now leave this industry. They dug their own grave trying to get back their lost volume and so will the government lose their tax collection. I mean who would try to trade on local exchanges when already their fees are high compared to international exchange and with 1% TDS it makes it more difficult. Those who will continue are the ones who don't have any other choice but to continue.

Another question that comes to my mind is why will other exchanges accept AML policy. The simple reason is that the owners of these exchanges except Binance have been anonymous. No one knows where these exchanges are located as they don't have any physical presence. Binance will only co-operate as it has one of the biggest user bases in India. So, I am only expecting the Binance to agree to all terms and conditions of the government of India.

[Bitcoin Smith]

Another question that comes to my mind is why will other exchanges accept AML policy. The simple reason is that the owners of these exchanges except Binance have been anonymous. No one knows where these exchanges are located as they don't have any physical presence. Binance will only co-operate as it has one of the biggest user bases in India. So, I am only expecting the Binance to agree to all terms and conditions of the government of India.

Most exchange has their headquarters and their CEOs are known to the public but they are obviously operating from region where crypto-friendly policies are available for their benefits. Now every government is sqeezing them to accept their regulation policies or just leave the premises which is not really new and it's something initiated by US and still followed by US.

No business will look to skip India because we are the highest populated country in the world and it's really freemarket unlike China so I guess every exchange will try to comply the regulations to increase their business.

[Ravichnadra]

Well I dont understand that either too.

I'm a regular Binance user and I'm really disappointed about the news.

[pawanjain]

Another question that comes to my mind is why will other exchanges accept AML policy. The simple reason is that the owners of these exchanges except Binance have been anonymous. No one knows where these exchanges are located as they don't have any physical presence. Binance will only co-operate as it has one of the biggest user bases in India. So, I am only expecting the Binance to agree to all terms and conditions of the government of India.

Most exchange has their headquarters and their CEOs are known to the public but they are obviously operating from region where crypto-friendly policies are available for their benefits. Now every government is sqeezing them to accept their regulation policies or just leave the premises which is not really new and it's something initiated by US and still followed by US.

No business will look to skip India because we are the highest populated country in the world and it's really freemarket unlike China so I guess every exchange will try to comply the regulations to increase their business.

Almost every popular exchange having Indian customers are having their headquarters in some country. None of them are anonymous.
As for the AML policies, if the exchange has a huge Indian user base then they don't have an option other than to accept the policies.

[Bureau]

Just an FYI to everyone around here. Please check whether you guys are able to open up any of those banned exchanges. I am able to open binance.com using my Airtel mobile connection. I was also able to open mexc global and OKX exchange. I am not sure but I think the url ban has been removed. I tried searching these exchanges on the Play Store but failed to find the apps.