🚨 Binance Returns to India 🚨

Binance has recently registered with the Financial Intelligence Unit of India (FIU-IND) as a reporting entity. The registration underscores Binance’s commitment to complying with anti-money laundering (AML) standards and promoting a safe, transparent, and efficient ecosystem

In February, Binance received a show cause notice from the Financial Intelligence Unit of India (FIU-IND) under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA). Subsequently, several foreign cryptocurrency websites, including OKX, Kucoin, and Binance, were removed from the App Store by Apple and Google.

In May, Binance secured full registration with the Financial Intelligence Unit of India (FIU) by paying a $2 million fine and revamping its South Asia operations.

Richard Teng, CEO of Binance, commented on the development as follows: “Our registration with FIU-IND marks a significant milestone in Binance’s journey. Recognizing the vitality and potential of the Indian VDA market, this compliance with Indian regulations allows us to tailor our services to the needs of Indian users. It is an honor to extend the reach of our cutting-edge platform to this thriving market, supporting the continued growth of VDA in India.“