What changes it will create? The people who are using crypto they are using some kind of exchanges that they need to do their transactions either letting it to know to the authority or without letting them know.
Oh there's surely gonna be weighing of options because of the high taxes which AFAIK remains.
But I'd like to make an emphasis about the future. Imo every known global exchange making an exit does not place the country in a good light. I also think, it's only a matter of time until the decent no-mandatory kyc exchanges removes such rule and the only ones with laxer kyc policies are the nearly obscure exchanges. If it were up to me, I'd choose a reputable exchange with mandatory kyc any day. NO KYC exchanges are still pretty limited in terms of liquidity + market products available -- a lot are p2p and instant swaps.
By the way, does it means kucoin token will have stronger value
I suck at price speculations lol. But I do think we need to watch more. IIRC, when coinbase tried to explore the indian market, it was like a whirlwind, they exited shortly -- only took them a year or so?
If Kucoin is approved, does this mean that we may hear the return of more exchanges and their approval, or is the government’s plan to maintain only one or two exchanges?
IDK lol. I'm hoping for the first one tho and maybe a laxer approach from the regulatory bodies.
