Binance is facing a $2.25 million fine for operating in India in violation of local money laundering rules. India's Financial Intelligence Unit (FIU) has imposed a multi-crore fine on cryptocurrency exchange Binance for failing to register with the FIU to comply with anti-money laundering rules. 😮 Binance has not yet made any statement on the subject. India is one of the fastest growing crypto economies and has the highest adoption rate by 2023. Binance has grown in popularity with traders looking to bypass tax obligations imposed by the Indian government. However, the Reserve Bank of India did not change its stance on cryptocurrencies and demanded a blanket ban on digital assets.