Binance Could Come Back to India
The leading crypto exchange, Binance which was removed months ago from India. Now, the crypto exchange is looking to come back to India by paying a fine of $2 million, according to a report by the Economic Times.
Binance with some other exchanges was removed from the Apple store in India earlier this year after compliance show-cause notices were sent to them by India's Financial Intelligence Unit (FIU).
The other firms that were sent notices at the time were Huobi, KuCoin, OKX, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
The leading crypto exchange Binance will return to India as an FIU-registered firm after paying the fine, shared in the report by Economic Times, citing people aware of the developments.
According to the report, citing a source, It is “unfortunate that it took (Binance) more than two years to realize there is no room for negotiations, and (that) no global powerhouse can command special treatment, especially at the cost of exposing the country’s financial system to vulnerabilities,”
The crypto exchange Binance was not immediately available for comment.
This news is something the Indian crypto community would be glad to see as Binance is the largest crypto exchange in the world providing crypto services to users across the globe.
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