international exchanges will choose the way of paypal to enter

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Paypal has been fighting for a long time and finally, PayPal bowed down against FIU India and accepted all the terms and conditions of the PMLA Act which is anti anti-money laundering act. Indian government is strict with the PMLA Act and it is necessary to register under PMLA Act.

It is noteworthy that the 9 foreign cryptocurrency exchanges on which the government of India has taken action include big names like Binance, Kucoin, Gate.io, Bittrex, Bitstamp, Kraken, MEXC Global, Huobi, and Bitfinex. These exchanges are bigger names in the crypto industry especially Binance is the biggest exchange of the crypto industry and lots of Indians have accounts in this particular exchange.

Now the question is what will happen with these 9 extensions I am expecting that these nine exchanges will choose the way of payaple and they will accept all the terms and conditions and come to the Indian market because it is the biggest market and it holds big user base of Crypto so they don’t want to lose this user base and because of this reason they will register under the pmla act and follow the tax rule of India.

Even the people of India are against this new tax rule instead of growing the industry it will kill the Crypto industry and you can see the negative impact on the Crypto Volume in the exchanges transactions are decreasing and the volume is decreasing as well because no one wants to give one percent tds per transaction and it is huge however exchanges are here to increase the user base and their target is to do more business that is why they will choose the way of payple. What is your thinking on this particular topic? let me know in the comment section have a good day.