🚀 Binance Set to Return to India as FIU-Registered Entity 🚀

🌟 Major News Alert: Binance is making its comeback in India, registered with the Financial Intelligence Unit of the Finance Ministry!

🇮🇳 Despite the government's previous ban, Binance is now committed to complying with all relevant laws, including the PMLA and VDA taxation framework.

🔍 Here's the scoop:

- Binance will re-enter India as a FIU-registered entity, ensuring compliance with all local laws.

- India's Financial Intelligence Unit monitors trades in virtual digital assets, with recent expansions to the PMLA.

- Binance vows to adhere to anti-money laundering laws and taxation frameworks previously overlooked.

💬 Indian officials emphasize the need for all global exchanges to comply with local laws to operate in the country, rejecting special treatment requests.

🔒 Previously delisted from app stores and blocked online, Binance has been in negotiations with the government to regain access for users.

💼 Despite willingness to pay taxes and penalties, Binance faced hurdles in complying with PMLA guidelines, prompting discussions with Indian authorities.

💥 Binance joins KuCoin as the second overseas exchange to return to India, while others like OKX exit due to regulatory complexities.

⚠️ Disclaimer: This post is for informational purposes only. Seek professional advice for legal, tax, or financial matters.

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