Binance resumes operations in India after registering with FIU and complying with local regulations.

Binance, the world's largest crypto exchange, has resumed operations in India after a seven-month hiatus due to non-compliance with local anti-money laundering and counter financing of terrorism requirements. The exchange has now registered with India's Financial Intelligence Unit (FIU) as a reporting entity, enabling it to legally offer its products and services to users in the region in compliance with local regulations. This move follows India's underdeveloped cryptocurrency market, with the Reserve Bank of India exerting pressure on banks to distance themselves from crypto firms and the government implementing strict tax policies.

August 15, 2024
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