[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![simplykashif Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::3015161303.png) Kashif Raza [@simplykashif](/creator/twitter/simplykashif) on x 167K followers
Created: 2025-07-19 18:24:19 UTC

To avoid further hacks of Indian Exchanges, I have a not-so-tasteful but practical suggestion:

India should allow the big, reputable top X foreign exchanges of the world to either:

- Set up an Indian entity inside India and get a crypto license.
- Allow FDI up to XX% in Indian crypto exchange.
- Allow people to self-custody and easy withdrawal from exchanges.

Maintaining security standards is a costly affair, and Indian exchanges do not have deep pockets to spend on the security of crypto against hacks. 

Only big global players with deep pockets and insurance funds can protect user funds. We saw a recent example of Bybit.

Coinbase, Binance, and a few other exchanges are like Google, Apple, and Amazon of the crypto industry, with deep pockets and global expertise to secure funds and even reimburse if something goes wrong.

With earnings remaining within India, and global exchanges setting up their Indian entities, they will be fully compliant.

X is giving us anXiety.


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1946637239657599209/c:line.svg)

**Related Topics**
[india](/topic/india)
[exchanges](/topic/exchanges)

[Post Link](https://x.com/simplykashif/status/1946637239657599209)