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Coin

<ul class="news-points"> 
 <li>Binance has moved to restore Indian access to its mobile application and website.</li> 
 <li>However, the Indian government rejected Binance’s request to resume operations.</li> 
 <li>Binance needs time to establish procedures to comply with required regulations.</li> 
</ul> 
<a href="https://coinedition.com/binance-exchange-review/" target="_blank" rel="noreferrer noopener">The world’s largest crypto exchange, Binance</a>, is in talks with the Indian government to restore citizens’ access to the Binance mobile application and website. An Indian publishing firm <a href="https://economictimes.indiatimes.com/tech/technology/centre-wants-binance-to-comply-with-pmla-rules-to-resume-operations/articleshow/107407309.cms?from=mdr" target="_blank" rel="noreferrer noopener nofollow">captured</a> this development, citing sources familiar with the matter.&nbsp; 
Per the report, Binance is willing to settle outstanding taxes accumulated as of January 12, when operations were halted. However, it noted that the exchange is unprepared to adhere to the Prevention of Money Laundering Act (PMLA) guidelines. 
In particular, Binance sources reportedly stated that the exchange requires time to establish the necessary procedures to comply with the PMLA and Financial Intelligence Unit (FIU) regulations. Consequently, it requested permission to resume operations in the interim period. 
In response, the Indian authorities have rejected Binance’s request to resume operation…
The post <a href="https://coinedition.com/binance-seeks-return-to-india-but-faces-pmla-compliance-hurdles/">Binance Seeks Return to India But Faces PMLA Compliance Hurdles</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Binance Seeks Return to India But Faces PMLA Compliance Hurdles

Coin Edition

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