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Binance returned 7 months later: The ban has been lifted
Binance, the world's largest cryptocurrency exchange, has reached an agreement with the Indian regulator after a 7-month ban. In addition to the exchange's website, the Google Play Store and the App Store will be open to Binance's Indian customers from now on.
The Binance exchange has reached an agreement with India, one of the countries with the toughest crypto regulations in the world. The stock market reached a compromise with the Financial Intelligence Unit, the regulator of India. The company has been in a banned position in India for about 7 months. The Binance application could not be downloaded from the Apple App Store with the Google Play Store.
In the statement made by Binance, it was stated that this agreement is an indication that the company complies with the anti-money laundering rules and its goodwill in this regard. Binance has also paid a $2.2 million fine for past regulatory violations.
OKX was taken
As it will be remembered, in March, it banned 9 exchanges, including Binance, by the Indian authority. Together with Binance, these exchanges were KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex.
In fact, the OKX exchange, which was not on the list, had left the Indian market after the warnings. While OKX left the country, Binance stated in a statement at that time that they wanted to continue working with Indian regulators and authorities.
After months of negotiations, it seems that a positive result has been reached here as well. #binance #india_crypto
