๐ด๐จFIU imposes Rs 18.82 crore penalty on crypto exchange Binance๐ด๐จ
Global cryptocurrency exchange Binance has been fined Rs 18.82 crore, the highest ever on any crypto entity by the Financial Intelligence Unit of India (FIU-IND) for non-compliance to anti-money laundering laws.
Back in December 2023, the intelligence unit of the Finance Ministry, which is tasked with oversight of trade in virtual digital assets (VDA), had issued a show cause notice to Binance and eight other global exchanges for their operations in India without compliance with applicable laws.$BTC