💵💵 #Binance the world's largest crypto exchange, has registered with FIU-IND in India after nine offshore exchanges were blocked for not following anti-money laundering regulations. However, compliance processes are ongoing, and the exchange will only be operational after completion and payment of a penalty fee.
Binance's registration comes after rival KuCoin signed up in March, while OKX discontinued its services in #India from April 30.
KuCoin is fully registered and operational now, while Binance has completed its initial registration but its penalty and compliance proceedings are still ongoing.
A workshop was held in New Delhi on May 10 to discuss the importance of PMLA compliance for VDA players. The workshop was attended by officials, representatives, and leaders from 35 REs, including CoinDCX, CoinSwitch, WazirX, Mudrex, Unocoin, Pi42, Giottus, and Kucoin. Cyberabad police warns against peer-to-peer crypto trading.
