Wu said that he learned that Binance announced that it has successfully registered as a reporting entity with the Indian Financial Intelligence Unit (FIU-IND). This achievement marks Binance's 19th milestone in global regulation, and Binance's website and application are now fully open to Indian users. In January 2024, Binance and several other offshore cryptocurrency exchanges were issued a show-cause notice by the Indian authorities for "illegal operation" and were subsequently expelled from India; in May, Binance obtained approval from the Indian Financial Intelligence Unit (FIU) as an offshore crypto-related entity, but on the condition that it paid a fine after a hearing with the FIU.