Google and Apple have removed popular cryptocurrency exchanges such as Binance and OKX from their app stores in India due to non-compliance with the Prevention of Money Laundering Act (PMLA). This has resulted in Indian traders turning to compliant platforms like WazirX and CoinSwitch Kuber for their trading needs.
Meanwhile, Pullix, an emerging hybrid trading exchange, is gaining attention with its ongoing PLX token presale. The PLX token offers a unique “Trade-to-Earn” model, allowing users to earn instant rewards for trading and completing challenges on the platform.
The presale of the PLX token has seen a significant rise in interest, with a predicted 580% increase during the presale and a potential 100x increase upon launch. The token’s revenue-sharing mechanism, which offers a fixed passive income for holders, has also attracted investors and traders.
In a parallel development, the Indian government has taken measures to bring offshore crypto exchanges into compliance with local regulations. This has resulted in the removal of apps from app stores and a shift in Indian traders’ preferences towards domestic platforms.
This shift has been seen in the surge of registrations on compliant platforms like WazirX, CoinSwitch Kuber, and CoinDCX. However, this move also leaves many Indian investors with assets stuck in the wallets of blocked foreign exchanges.
In conclusion, as India tightens its grip on crypto regulations, global exchanges are facing the consequences, while domestic platforms are gaining traction. Pullix’s PLX token presale adds an interesting element to this evolving landscape, offering users innovative trading and earning opportunities amidst the changing regulatory environment.
