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How quickly that situation will be stabilised. So you are left grappling with long Term Uncertainty about whether or not this route through the Red Sea will be viable. Google has pulled many crypto eggs hinges including finance from its Place Store in india over the weekend coming two weeks after the global crypto exchanges were flagged for operating illegally in the South Asian market. Lets cross to mumbai where we can find our business correspondent. What problem does the government have with these exchanges . The governments have with these exchanges . Tue governments major have with these exchanges . Tte governments major concern i. I te have with these exchan Es7 T governments major concern is that these offshore rebel exchanges are not compliant with the anti Money Laundering laws in india and that millions of users in india are using these offshore platforms to evade taxes on crypto currency trading. Late in december the
Millions of users in india are using these offshore platforms to evade taxes on crypto currency trading. Late december, the government sent out Show Cause notices to nine such Offshore Firms asking them to talk about their registration and compliances and since last week first their websites were blocked and then they were removed from the Apple Store and now the Google Play Store has also removed these apps. The government in india has been increasing oversight on virtual digital assets. In 2022, they impose heavy taxes on profits as well as trading of digital assets. Many users had moved away from local platforms to these offshore exchanges because the local platforms had more stringent customer rules, while these Offshore Companies and offshore platforms had more easier rules for traders. Platforms had more easier rules fortraders. Some platforms had more easier rules for traders. Some of those