⚠️India's Financial Intelligence Unit fines Binance $2.2 million

Binance, the world's largest cryptocurrency exchange, was fined approximately $2.2 million (INR 188.2 million) for failing to comply with the country's anti-money laundering regulations when providing services to Indian customers, India's anti-money laundering department announced on Thursday.

In January 2024, Binance and several other offshore cryptocurrency exchanges were issued show-cause notices by Indian authorities for "illegal operations" and were subsequently expelled from India.

However, Binance, along with KuCoin, became the first offshore crypto-related entity to be approved by India's Financial Intelligence Unit (FIU) in May, but on the condition that the fine be paid after a hearing with the FIU. #3friends #币安HODLer空投