🔥🔥Breaking News🛑🛑

#APPLE INDIA REMOVES #BINANCE #kucoin and #OKX APPS FROM #applestore

- Apple India removed offshore crypto exchanges, including @Binance, @Kucoincom, and @okx, from its App Store.

- This action follows a show-cause notice sent by the finance ministry to nine virtual digital asset (VDA) service providers for alleged non-compliance with the country's money laundering laws.

What We Know👇

Finance Ministry's Warning and Show-Cause Notice:

- On December 28, the finance ministry issued a warning and show-cause notice to nine offshore crypto exchanges, including Binance, Kucoin, Houbi, Kraken, Gate[dot]io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.

- These exchanges were accused of violating Indian laws by failing to register and adhere to local tax regulations.

Accusations of Legal Violations:

- The accused exchanges were found to be in breach of Indian laws, prompting the finance ministry to instruct the Ministry of Electronics and Information Technology (MeitY) to block their URLs.

- Alleged violations include non-compliance with money laundering laws and failure to adhere to local tax rules.

Absence of Apple's Comment:

- As of now, Apple has not issued any official comments regarding the removal of these apps from its App Store.

- The reasons behind Apple's decision remain undisclosed, sparking curiosity within the crypto community.

- While Apple has taken a decisive stance, the offshore crypto exchange apps are still available on Google's Play Store.

- The future actions of Google in response to Apple's move remain uncertain, leaving room for further developments.