India's financial intelligence agency fined Binance $2.2 million.

Binance, the world's largest cryptocurrency exchange, has been fined approximately $2.2 million (INR 18.82 crore) for providing services to Indian customers without following anti-money laundering regulations. The Indian Anti-Monopoly Service announced this on Thursday.

Binance and several other foreign cryptocurrency exchanges received warnings from Indian authorities and were delisted from India for "illegal activities" in January 2024.

However, Binance became the first foreign cryptocurrency company to be approved, along with KuCoin, by the Financial Intelligence Unit of India (FIU) in May, subject to payment of a fine after a hearing before the FIU.