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🚨 BREAKING 📷 #Binance 📷 have officially registered with India's Financial Intelligence Unit 📷 🔥 Crypto exchange Binance completes initial registration with FIU-IND, further compliance proceedings still on While Binance’s penalty is yet to be decided, KuCoin which is fully registered has paid out Rs 34.5 lakhs in penalty and is now operational, -said FIU-IND director Vivek Aggarwal. World’s largest crypto exchange Binance got registered with the Financial Intelligence Unit in India (FIU-IND), months after nine offshore exchanges in India were blocked for not following local anti-money laundering regulations. This registration is, however, an initial step, as the compliance processes are still on. The exchange will be operational in India only after the completion of these processes and payment of a penalty fee is yet to be decided. Binance’s registration comes close on the heels of rival KuCoin signing up in March. Meanwhile, OKX decided to discontinue its services in India from April 30. According to Vivek Aggarwal, Director, FIU-IND and Additional Secretary Department of Revenue Government of India, KuCoin is fully registered and operational now after paying a penalty fee of Rs 34.5 lakh. “Binance’s operations have not yet resumed and the quantum of penalty is yet to be decided. Binance, as of now, has completed the initial registration with FIU-IND. Its penalty and compliance proceedings are still going on,” Aggarwal added, speaking at a workshop conducted by industry body Bharat Web3 Association (BWA) in New Delhi on May 10. #BinanceBackInIndia #write2earn🌐💹 #FollowYourBrotherForMore
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Bitcoin ETF vs Buying BTC Directly: What’s Better? 4/4 Buying BTC Directly As opposed to ETFs, buying Bitcoin directly provides you with ownership over the BTC, regardless of whether you buy it from an exchange or P2P. Of course, if you do buy it through an exchange such as Binance, you should consider self-custody. This means that you should take your BTC off the exchange and transfer it into a cold wallet such as Trezor or Ledger, where you control the private keys. In crypto, there’s a popular saying that goes like this: “Not your keys, not your Bitcoin.” This also comes with certain responsibilities. Keeping your crypto safe can be a challenging task, especially if you have no prior experience. Worry not, however, as we’ve prepared a detailed guide on what you can do to make sure your BTC is safe. Just as it is with ETFs, buying Bitcoin directly has its specifics. Here’s a quick summary. Trades on cryptocurrency exchanges You can’t buy Bitcoin on the New York Stock Exchange. You have to use a cryptocurrency exchange. The most popular ones are Binance (outside of the US) and Coinbase (US). Investors get direct ownership of BTC Once you buy spot BTC on a cryptocurrency exchange – you own it. You can transfer it out of the exchange to a cold storage, or you can use itto trade against other altcoins such as Ethereum. Acquisition fees vary between crypto exchanges Unlike ETFs, there’s no Sponsor fee. There are, however, trading fees associated with buying and selling BTC, and they vary based on the cryptocurrency exchange of choice. Managed by you Since you have complete ownership over the BTC you bought, you are also responsible for its safety. Self-custody comes with certain challenges, and it’s imperative that you learn about cold storage and how to keep your crypto safe. Trades 24/7, irrespective of traditional working hours Cryptocurrency exchanges work around the clock, so there are no limitations in terms of trading hours or weekends. #ETFvsBTC #Write2Share #write2earn🌐💹
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