đ Binance is making a comeback in India, folks! After a $2M penalty, the world's largest crypto exchange is ready to play by the rules. đźđł
âą Binance will now comply with India's regulatory frameworks, including the Prevention of Money Laundering Act (PMLA) and the taxation framework for virtual digital assets (VDA).
âą This move follows KuCoin's recent compliance with the Financial Intelligence Unit (FIU).
Binance once held a whopping 90% of India's estimated $4B in crypto holdings. But after a 1% TDS on crypto trading was implemented in July 2022, trading volume on Indian exchanges dropped nearly 90%. Traders moved to offshore exchanges, including Binance.
What's your take on Binance's return? Let's chat in the comments! đ #Binance #CryptoIndia