Within months of receiving a $2.2 million fine for unauthorized services in India, Binance has now completed registration with the country’s Financial Intelligence Unit (FIU-IND).
This marks the 19th worldwide registration for Binance and allows its website and app to be fully accessible to Indian users. The registration process began in May following a ban on Binance under the Prevention of Money Laundering Act (PMLA), along with eight other exchanges.
Binance was granted provisional approval in June, with the condition of paying a fine for violating the country’s anti-money laundering regulations.
Binance expressed its commitment to adhering to these standards and promoting a secure and transparent ecosystem.
Along with Binance, KuCoin, another banned entity, also paid a fine of $41,000 to clear its name with the FIU-IND.
