🚀 Big News for Binance in India! 🚀

Crypto exchange @binance has officially achieved legal status in India by registering with the Financial Intelligence Unit (FIU). This marks a significant comeback for the exchange, which faced a ban for over a year due to non-compliance with the Prevention of Money Laundering Act (PMLA). Binance has paid a fine of approximately ₹18.8 crore (around $2 million) to restart its operations.

Now operating as a virtual asset service provider (VASP), Binance can offer crypto trading services while adhering to local regulations. This registration is crucial for enhancing transparency and reducing tax evasion in India's rapidly growing crypto market. Binance is the second offshore exchange to register in India, following KuCoin.

With Binance's return, we can expect increased competition and liquidity in the Indian crypto space, benefiting investors and traders alike. Stay tuned for more updates! 🌟