Central crypto exchanges are increasingly becoming the weak link in the chain. In India and Belarus this week it became clear again how the state can use the exchanges to control the crypto market.

Crypto News: State Uses Crypto Exchanges to Control Market in India and Belarus

In India, rupee deposits were banned on some crypto exchanges this week. Two of the country’s major exchanges, WazirX and CoinSwitch Kuber, have disabled rupee deposits through the United Payment Interface (UPI). This apparently happened in connection with the market regulations required by the state central bank.

In Belarus, Russian users have had their accounts partially frozen on Currency.com. The complete service of the site is currently blocked for users from Russia, which was done in response to the invasion of Ukraine. It is suspected that a government order is also the cause here – weeks ago, politicians from Ukraine had called on crypto exchanges worldwide to implement sanctions against Russia.

These two recent examples show why decentralized crypto exchanges have become imperative to protect the market from government interference.