Golden Finance reported that India's anti-money laundering department announced on Thursday that Binance was fined approximately $2.2 million for providing services to customers in the country in violation of India's anti-money laundering regulations. In May of this year, Binance, along with KuCoin, became the first offshore crypto-related entities approved by India's Financial Intelligence Unit (FIU), on the condition that the fine be paid after a hearing by the FIU. The FIU said in a statement that after considering Binance's written and oral submissions, the director of the FIU-IND found that the allegations against Binance were well-founded based on the materials on record, and therefore, the director of the FIU-IND ordered a total fine of approximately $2.2 million against Binance, with clear instructions to ensure diligent performance of obligations.