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Binance, the crypto exchange giant, is set to make a comeback in India after a four-month ban. The company will reportedly pay a $2 million fine for non-compliance. This move makes Binance the second overseas exchange to return to India after KuCoin, following a block by the country's financial regulatory body due to non-compliance. Previously, Binance accounted for over 90% of India's crypto trading volume. Now, with registration from the Financial Intelligence Unit (FIU), Binance and other foreign exchanges must adhere to the same rules as Indian exchanges, including a 1% tax deduction at source.

Binance, the crypto exchange giant, is set to make a comeback in India after a four-month ban. The company will reportedly pay a $2 million fine for non-compliance. This move makes Binance the second overseas exchange to return to India after KuCoin, following a block by the country's financial regulatory body due to non-compliance. Previously, Binance accounted for over 90% of India's crypto trading volume. Now, with registration from the Financial Intelligence Unit (FIU), Binance and other foreign exchanges must adhere to the same rules as Indian exchanges, including a 1% tax deduction at source.

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