Seems like this is happening.
Rules seem to be designed for algo sellers but people like me who don’t sell algo, trade on my own account ( profitable for almost 5 years now) are maybe not going to get ‘open api access’
Part of the potential regulation is algo disclosure to exchange which is something very few will agree to, esp if algo has any real value and i am not selling to someone else. Considering how even phone numbers leak easily and nobody seems to have a clue, its a stretch to expect us to trust some 3rd party to keep info safe.
Lots more things that could potentially be disastrous depending on how they actually define this ( max order size based on income? etc )
Previously there was talk of having ip level restrictions, which if done sanely would have been much better and without this regulatory overreach.
Just pinging with hope that someone from Zerodha might mention people like us to SEBI and have a path for us - One person trading on his own account from say 1-5 ip address per day ( backup internet / dynamic ip) needing api access for automation.
Many people might start looking at unreliable ways of automation otherwise, and we go back a decade and also potentially get discriminated against vs algo sellers.
Finally, there are parts of api which are not related to ordering - realtime data / historical data / quote api etc. I hope that access to these does not get banned in any case as its unrelated.