Binance Square
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Akash Majumder
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JUST IN: 🇮🇳 Binance has been registered with India's Financial Intelligence Unit (FIU). ~ CoinDesk. #BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins #BlackRock $BNB

JUST IN: 🇮🇳 Binance has been registered with India's Financial Intelligence Unit (FIU). ~ CoinDesk.

#BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins #BlackRock $BNB

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🇮🇳 BINANCE & KUCOIN WIN APPROVAL FROM INDIAN REGULATOR! - KuCoin is the 1st overseas Bitcoin and Crypto exchange registered with FIU. - Today, Binance is the 2nd overseas BTC and Crypto exchange to register with FIU. - FIU: Financial Intelligence Unit. ACHIEVEMENT AND PENALTY: - Finally, Binance and KuCoin registered with India’s Financial Intelligence Unit (FIU). -This marks the first major approval of the CEXs by the country's anti-money laundering body. - Kucoin paid a $41,000 fine, and Binance awaits its penalty. INFO: - In addition, it may spell an end to India’s very harsh attitude toward offshore crypto CEXs. - Binance & KuCoin, along with Kraken & HTX Global, faced potential bans in late 2023. - Leading CEXs aim to comply with laws in various places to ensure smooth operations. BANNING EXCHANGES: - The Financial Intelligence Unit (FIU) ordered Binance , KuCoin, Bitstamp, Huobi, MEXC, Kraken, Gateio, Bitfinex, and Bittrex, OKX to register as 'reporting entities' for Indian users. - They may face URLs ban, iOS, Android app blocking in India. ~ 14 Jan 2024. 1⃣: KuCoin is the first overseas Bitcoin and crypto exchange registered with FIU. ~ 23 March 2024. SHOUT DOWN OR REGISTRATION: - OKX, a foreign Bitcoin and cryptocurrency exchange, shut down operations in India due to regulatory issues involving the Financial Intelligence Unit (#FIU). - Other exchanges are either seeking FIU registration or closing like OKX. ~ 30 April 2024. TODAY: - Binance has been registered with India's Financial Intelligence Unit ( FIU ) - Huge achievement for the Binance team and their users. - Congratulations @Binance for FIU-IND successfully registered. #BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins #BlackRock $BNB
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