Binance Re-Enters Indian Market with Regulatory Milestone

Binance, a leading global cryptocurrency exchange, has marked its 19th global regulatory milestone by re-entering the Indian market. The exchange has officially registered as a reporting entity with India’s Financial Intelligence Unit (FIU-IND), allowing it to operate within the country. Following this regulatory achievement, Binance’s website and mobile applications are now fully accessible to Indian users, a significant change as they were previously unavailable in India due to regulatory challenges.

Binance CEO Richard Teng highlighted the importance of the Indian Virtual Digital Assets (VDA) market, stating that aligning with Indian regulations enables the exchange to better serve the needs of Indian users. In addition to its market re-entry, Binance is implementing strict Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) controls. This move comes after Binance resolved a tax dispute with Indian authorities, paying a $2.2 million fine for previous non-compliance with AML rules, further demonstrating its commitment to adhering to local regulations and supporting India’s evolving VDA landscape.

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