Is Binance India at Risk After CZ Statement on Operation Sindoor?

Is CZ Statement on India Pakistan War a Ban Alarm for Binance? Check

Changpeng Zhao (CZ), the former CEO of Binance, is once again in the spotlight—but this time, not for crypto. After the recent India Pakistan war tensions and the execution of Operation Sindoor, CZ posted a statement on X (formerly Twitter) that raised many eyebrows.

CZ’s tweet said:
"We hope everyone is safe in Pakistan and India. We condemn war. Let’s compete on economic growth and tech innovations that enhance lives and unite communities. We share one planet and belong to one species: human."

Source: X

This message was a reply to Sadyr Zhaparov, the President of Kyrgyzstan, who expressed concern over the growing tension between the two countries. However, CZ’s statement—especially its timing—turned into a topic of controversy.

CZ’s Statement: Was It Support for Pakistan?

While CZ's tweet seemed to call for peace, many people felt the timing was off. The tweet came right after Operation Sindoor in response to a brutal terror attack in Pahalgam, where 25 Indian citizens and one Nepali citizen were killed by Pakistani terrorists on April 22.

In reaction, the country carried out a "mock drill" on May 7 and, behind the scenes, launched Operation Sindoor.

Many people started asking: Why didn’t CZ say anything when the terror attack happened in Pahalgam? Why only speak up after Pakistan faced strikes and financial troubles?

Interestingly, CZ has shown interest in Pakistan's market in recent months. In April, he joined the Pakistan Crypto Council as an advisor and even met with Pakistan's former Prime Minister, Nawaz Sharif. 

Source: X

CZ tweeted about this meeting, saying, “It was a good meeting. We probably talked more about education than crypto. I got too excited. But we did talk about crypto.” He also highlighted Pakistan’s young population and growing digital asset adoption, calling it an “active market.”

While, supporting digital growth is fine, many are now questioning whether CZ's recent comments indirectly supported Pakistan at a sensitive time when India had just retaliated for the terror attack.

Is Binance India in Trouble Again?

This controversy has once again put the exchange under the spotlight. It’s important to note that this won’t be the first time the country has taken strict action against Binance. Back in January 2024, India banned Binance, and the app was removed from both the iStore and Google Play Store. The platform had to register with Financial Intelligence Unit (FIU-IND) and paid a hefty $2.25 million fine to operate again. By August 2024, it’s website was unblocked, and it was allowed to operate legally.

Now, CZ’s latest statement could cause fresh trouble. If Indian authorities see his comments as biased or harmful, there’s a chance they could impose new restrictions on the exchange again.

What Happens if India Bans Binance Again?

According to Chainalysis, India ranked number one in the 2024 Global Crypto Adoption Index for Central & Southern Asia and Oceania, while Pakistan was ranked ninth. 

Source: Chainalysis

This shows that world's most populated country is a far more active and important market for crypto than Pakistan.

After the WazirX hack, Binance became most-used app for crypto trading and storage. Many Indian crypto users rely on Binance, and if India bans it again, it would be a massive blow to both Binance and its users in India.

In simple words, CZ’s comment—although meant to promote peace—came at the wrong time and is now causing new worries for Binance’s future.

Disclaimer: This news is purely speculative and intended for informational use only; it does not spread rumors. Before making any investments or decisions, please conduct your research.