According to ChainCatcher, Binance announced that it has registered as a reporting entity with the Indian Financial Intelligence Unit (FIU-IND). This achievement marks Binance's 19th milestone in global regulation. Registration with the Indian Financial Intelligence Unit demonstrates Binance's commitment to complying with anti-money laundering (AML) standards in India and other jurisdictions where it operates.
According to Chainalysis data, India ranks in the top five in terms of estimated trading volume for centralized and decentralized exchanges, lending protocols, and token smart contracts. Binance’s website and applications are now fully open to Indian users, providing them with a full range of Binance services and tools to meet their needs.
Richard Teng, CEO of Binance, said: “Our registration with the Indian Financial Intelligence Unit marks an important milestone in Binance’s journey. We recognize the vitality and potential of the Indian virtual digital asset market, and this collaboration with Indian regulators enables us to provide customized services to Indian users. We are honored to expand our leading platform into this thriving market and support the continued development of the Indian virtual digital asset market.”