Tensions between India and Pakistan escalated once again, and India carried out airstrikes on some terrorist bases in Pakistan under ‘Operation Sindoor’ on 7 May. On the one hand, while the crypto market gained momentum after Operation Sindoor, on the other hand, reactions from all over the world have started coming in immediately after this incident. Meanwhile, Binance founder and famous crypto trader Changpeng Zhao (CZ) has made a big statement on social media.
CZ said in its statement, “We wish everyone in Pakistan and India to be safe. We condemn war. We should compete in technology and economic development, not in war. We are all humans and live on the same planet.”
‘This statement of CZ, which came out after Operation Sindoor, seems positive, but after remembering the terrorist attack in Pahalgam in Anantnag district of Jammu and Kashmir on 22 April
This can also become the reason for a big controversy. Because CZ did not directly criticize the military action taken by India, but spoke against Operation Sindoor by putting both the countries on the same level, due to which some people felt it to be anti-India and now after this statement, problems have increased for Binance Exchange in India.
Binance is already under investigation in India
After CZ’s statement, the Indian government and investigative agencies can now take stricter action against Binance. Earlier also Binance has been accused of operating without a license in India and not following tax rules.
But now that CZ has opposed the war by “equating both countries” in a way, questions are being raised in India whether Binance understands India’s policy or not.
Some experts say that this statement of CZ has not come at the right time politically. This can harm the image of Binance in India and some big action can also be taken against it.
Binance’s reputation may be affected significantly
Millions of people in India use Binance, and the Indian crypto market is also growing rapidly, but it is also true that the government wants to regulate it completely. At the same time, when the CEO of Binance makes such statements at such a sensitive time, the government cannot take it lightly.
Experts believe that CZ should have maintained his sanity at such a time, especially when his company is already under investigation. On the other hand, if the Indian government now takes any strict action against Binance, then both the company’s reputation and profit can suffer a major setback.
Will action be taken against Binance?
Now the question is, will the Indian government take this statement of CZ seriously and impose a new ban on Binance? Although no official feedback has come out yet, one thing is clear that the situation is not normal yet.
The statement issued by CZ after Operation Sindoor launched by India in response to the Pahalgam attack may be correct from a human perspective, but making such a statement immediately after a country’s military action raises many questions. At the same time, a big company like Binance needs to speak more thoughtfully while working in a large and sensitive market like India. Otherwise, its business and legal consequences can be serious.