Impact

Apple

MN Coin

<div class="coinjournal">
 <ul>
  <li>Binance, OKX apps removed from Google, Apple stores due to PMLA non-compliance.</li>
  <li>Indian traders flock to compliant platforms like WazirX, CoinSwitch Kuber, post-app removals.</li>
  <li>Pullix’s PLX presale gathers steam fueled by its innovative trade-to-earn model.</li>
 </ul>
 <p>In a significant turn of events, Google and Apple have removed major cryptocurrency exchanges from their app stores in India. This move follows heightened regulatory scrutiny by the Financial Intelligence Unit of India (FIU-Ind).</p>
 <p>Meanwhile, Pullix, an emerging trading <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>, is making waves with its ongoing PLX token presale, offering unique <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> and a game-changing revenue-sharing mechanism.</p>
 <h2 id="pullix-hybrid-crypto-trading-platform">Pullix: hybrid crypto trading platform</h2>
 <p>Pullix, an innovative hybrid trading exchange currently conducting the presale of its native token, PLX, is making waves in the cryptocurrency space as popular exchanges face the wrath of regulatory authorities.</p>
 <p>Ushering in a new era of trading experiences. The PLX token stands out as the market’s first “Trade-to-Earn” cryptocurrency, allowing users to earn instant rewards for trading on the platform and completing challenges.</p>
 <p>The PLX presale is generating significant interest, with analysts predicting a 580% rise in the presale and a potential 100x increase on launch. The presale is in its sixth stage and the price has risen considerably from the initial price of $0.04 to its current price of $0.08.</p>
 <p>As the presale progresses, investors and traders are drawn to the PLX token’s unique revenue-sharing mechanism. Holders have the opportunity to profit from the daily revenue of the exchange, earning a fixed passive income by providing liquidity to automated market makers once the exchange launched later in January. This approach sets Pullix apart, offering a reliable source of income in the volatile crypto landscape.</p>
 <h2 id="india-s-crypto-clampdown-google-and-apple-remove-exchanges">India’s crypto clampdown: Google and Apple remove exchanges</h2>
 <p>The crypto landscape in India is undergoing a seismic shift as major exchanges face removal from both the Google Play Store and Apple App Store. Binance, OKX, KuCoin, and others have been blocked following notices from the FIU-Ind, stating that these exchanges are operating illegally without registering as reporting entities under the Prevention of Money Laundering Act (PMLA).</p>
 <p>This regulatory action is part of a broader effort to bring offshore crypto exchanges into compliance with Indian regulations. The FIU-Ind’s notices, issued on December 28, 2023, highlighted concerns about money laundering activities on these platforms.</p>
 <p>The <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a>n government has escalated its measures by urging the Ministry of Electronics and Information Technology to block the URLs of these <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s, compelling them to register their services in <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a>. The removal of these apps from app <a rel="noopener noreferrer nofollow" title="store" href="https://thebittimes.com/tag/store.html">store</a>s has impacted users’ access, marking a significant development in <a rel="noopener noreferrer nofollow" title="India" href="https://thebittimes.com/tag/india.html">India</a>’s stance on cryptocurrency trading.</p>
 <h2 id="impact-on-indian-traders">Impact on Indian traders</h2>
 <p>India’s stringent regulatory environment, including a 30% capital gains tax and a 1% transaction levy, had prompted many Indian crypto traders to seek refuge on global platforms. However, the recent clampdown has resulted in a reverse trend.</p>
 <p>With Google and Apple restricting access to major international exchanges, Indian traders are turning to domestic platforms like WazirX, CoinSwitch Kuber, and CoinDCX. These platforms, compliant with India’s anti-money laundering regulations, have witnessed a surge in registrations.</p>
 <p>WazirX, for instance, reported a remarkable 250% surge in deposit inflows within four days of the FIU-Ind’s compliance notice to foreign exchanges. While this shift indicates a return to local platforms, it also leaves many Indian investors with assets stuck in the wallets of blocked foreign exchanges.</p>
 <h2 id="conclusion">Conclusion</h2>
 <p>As India tightens its grip on cryptocurrency regulations, global exchanges are feeling the impact, leading to their removal from major app stores. The simultaneous rise of domestic platforms signals a shift in traders’ preferences, driven by regulatory compliance and the need for a secure trading environment.</p>
 <p>Pullix’s PLX token presale adds an intriguing layer to the evolving crypto landscape, providing users with innovative opportunities for trading and earning in a market undergoing significant regulatory transformation.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pullix-hybrid-exchange-enters-market-as-google-and-apple-pull-major-exchanges-from-stores-in-india-tbt76600.html">https://thebittimes.com/pullix-hybrid-exchange-enters-market-as-google-and-apple-pull-major-exchanges-from-stores-in-india-tbt76600.html</a></p>

Pullix hybrid exchange enters market as Google and Apple pull major exchanges from stores in India

Table of Contents

TheBitTimes

Other articles published on Jan 15, 2024

$83M in $BTC Liquidations On First Day of ETF Trading — Is This Presale a Safer Bet?

Spot Bitcoin ETFs Would Push BTC Price to $500K: Crypto Trader

10+ Best Bitcoin Casinos Not on GamStop for 2024

First Few Days of $BTC ETF Trading Disappoints As $GFOX Presale Explodes

Testimony Project

ETH turns traders ‘extremely greedy’ as BTC falls short

Join our free newsletter for daily crypto updates!