Million

Fine

Coin

<ul class="news-points"> 
 <li>India’s Financial Intelligence Unit (FIU) fined Binance $2.25 million for non-compliance.</li> 
 <li>Binance is the first offshore crypto exchange penalized by the FIU.</li> 
 <li>The FIU’s action followed warnings and website restrictions for several exchanges.</li> 
</ul> 
India’s Financial Intelligence Unit (FIU) has fined Binance, the world’s largest cryptocurrency exchange, $2.25 million for allegedly operating in the country without complying with anti-money laundering regulations. This marks the first time an offshore crypto exchange has been <a href="https://fiuindia.gov.in/pdfs/judgements/Binance_Order_10_2024.pdf" target="_blank" rel="nofollow">penalized by the FIU</a>. 
Reportedly, Binance, along with KuCoin, has become the first offshore crypto company to be cleared by India’s FIU upon settlement. 
Previously, Indian authorities <a href="https://coinedition.com/binance-returns-to-india-with-2-billion-penalty/">warned</a> several crypto exchanges, including Binance, KuCoin, and OKX, alleging violations of the nation’s anti-money laundering laws. After issuing notices to these exchanges, the FIU restricted them, blocking access to their websites. Following these actions, various sources commented on the matter, sharing differing views.&nbsp; 
While some predicted Binance’s return to India with compliance under current laws, including the Prevention of Money Laundering Act (PMLA) …
The post <a href="https://coinedition.com/binance-slapped-with-2-25-million-fine-by-indian-financial-regulator/">Binance Slapped with $2.25 Million Fine by Indian Financial Regulator</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Binance Slapped with $2.25 Million Fine by Indian Financial Regulator

Coin Edition

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