Why is crypto ripping again

Ever tried to watch a show or sports match online, only to get the dreaded message: “Not available in your region”?

It’s like, what am I supposed to do then? Move to Canada for three hours so I can watch this thing?

So annoying.

And unfortunately, some crypto users in India might feel this pain.

A couple of years back, India passed a rule: if you want to run a crypto platform for Indian users, you’ve got to register under the country’s anti-money laundering law, the Prevention of Money Laundering Act (PMLA).

The idea is to make crypto companies act a bit more like banks: check IDs, flag sus activity, keep track of transactions, the whole shebang.

Plenty of platforms got the memo. About 50 have registered, including big names like Binance and Coinbase.

… But 25 foreign crypto exchanges didn’t bother.

So now, India’s Financial Intelligence Unit (FIU-IND) has sent legal notices to those 25 platforms (including Huione, LCX, and others), all of which are still serving Indian users without ever registering locally.

And the FIU isn’t messing around: they’ve asked for those exchanges’ apps and websites to be blocked in India.

Which means if you’re using one, you could wake up tomorrow unable to open the app or struggling to move your coins out.

The immediate question is how the companies respond.

India is one of the largest retail crypto markets in the world, and losing access means a huge drop in trading volume – so some exchanges will likely apply for registration to stay in the market.

Either way, the result is the same: Indian traders end up forced into a smaller pool of regulated platforms. That gives the government more oversight.

And this isn’t limited to India – regulators worldwide are dragging crypto into the same rulebook as TradFi, whether we like it or not.

Which will inevitably influence how ordinary people trade, how exchanges survive, and how the market evolves.