• 01 September, 2024
Binance

Binance Set to Return to India After Paying $2M Penalty

Binance, previously banned in India, is set to re-enter the market by paying a $2 million penalty. The exchange will register with the Financial Intelligence Unit (FIU) and adhere to regulations, including the Prevention of Money Laundering Act (PMLA) and virtual digital asset (VDA) taxation. Compliance with laws signals a shift from past practices, ensuring a more transparent and regulated presence in India's cryptocurrency landscape.

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