Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: damsix on April 17, 2021, 05:47:41 AM
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It's very sad to feel but it's the truth.
Maybe I will add the reasons why Indonesia is banned by the Binance community (such as Binance.com, Binance.org etc.).
-Binance did not pass the test given by the Indonesian State Financial Agency.
-Binance cannot be taxed if the website is banned.
-Must use a VPN when trying to access binance.com and Binance.org
-Many Binance factors cannot be accepted by Indonesia.
But there are positives too and I'll break them down a little:
+ Binance is working with TokoCrypto.com to create a centralized exchange that has the legality of a financial institution in Indonesia.
+ This has no effect on the community in Indonesia as we have various ways to continue supporting Binance Smartchain, BEP2, BEP20, Binance.com, Binance.org etc.
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Binance already knew that the Indonesian Government is strict when it comes to crypto that's why they invested in a TokoCrypto like what they did to India's WazirX. That's a smart play actually and something the government would be very happy about because they can also benefit from it.
They can't ban BSC though.
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That's right, we need to use VPN in order to be able to access the Binance website or platform, Binance academy also. or we can edit the DNS.
I am personally still using the Binance application and fortunately, we can still use the app without any problem and also about Tokocrypto. It becomes one of the problems solving to be got
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I think the Indonesian government didn't ban the community of Binance, they just didn't allow people to access the Binance exchange. While for other things about Binance, can work as usual. Just wait till the government allows it again, I think the government will allow it again someday. So don't worry.
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+ Binance is working with TokoCrypto.com to create a centralized exchange that has the legality of a financial institution in Indonesia.
+ This has no effect on the community in Indonesia as we have various ways to continue supporting Binance Smartchain, BEP2, BEP20, Binance.com, Binance.org etc.
But if all of those shortcomings have advantages, then I make sure that these deficiencies will definitely be eroded by the advantages of a project that is being developed.
We need time from Binance colleagues in your country to continue to develop because the future who knows, even if Zed0X said also WazirX is a collaboration from India and now the price of tokens has skyrocketed so fast.
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+ Binance is working with TokoCrypto.com to create a centralized exchange that has the legality of a financial institution in Indonesia.
+ This has no effect on the community in Indonesia as we have various ways to continue supporting Binance Smartchain, BEP2, BEP20, Binance.com, Binance.org etc.
Though binance exchange is banned, but it's good to see that TokoCrypto is launched to give services towards Indonesian users and it's also supported by binance which is looked like indirectly operated by binance and Team is obviously from Indonesia so that they can operate according to the country laws. One thing is true, any country can ban any exchanges ,but can't ban any blockcahin as community will sure to use that blockchain whether it's binance or others. Also, TKO might take bullish rally along with BNB in the upcoming days as it's the native token from Tokoexchange.
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Really, Binance did not pass the test given by the Indonesian State Financial Agency? What kind of test is this? Binance is the worlds top exchange and top volume I dont think this is the reason why they banned Binance, maybe Indonesian government is asking huge amount of tax fees to Binance and they doesn't want to comply yes its all about money when it comes to business.
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Really, Binance did not pass the test given by the Indonesian State Financial Agency? What kind of test is this? Binance is the worlds top exchange and top volume I dont think this is the reason why they banned Binance, maybe Indonesian government is asking huge amount of tax fees to Binance and they doesn't want to comply yes its all about money when it comes to business.
Yes,Any exchange that wants to open a branch or other crypto exchange in Indonesia requires clear legal permits and legality, this is to avoid fraud, I think all countries have strict rules, but all of that is just a matter of the licensing system and I think the government also wants to benefit of each exchange by setting crypto trading tax. Binance partner Tokocrypto has Indonesian Financial Supervisory Agency license, this is great and I think as soon as possible the Indonesian government will give permission to Binance Exchange if they do good negotiations.
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But I am sure that the country of Indonesia, whose OP lives there, will one day open its wings in the openness of cryptocurrency trading.
It is just getting started and cryptocurrency has just recently entered the department of financial institutions and government.
We are just waiting for the time for cryptocurrency to be accepted by all people.
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If the country's regulations are very strict and don't like Binance then feel free to get Banned but not the community.
I am sure that the Indonesian community will continue to seek solutions or solutions so that they will continue to love Binance and all the forms that Binance generates.
My experience will really help Binance to promote because it is trending in such conflict countries.