#FIU_IND Notice for Global #CEXs
(Actual News Link given below)...

Posted On:
28 DEC 2023 8:56PM by PIB Delhi

Financial Intelligence Unit India (FIU IND) issues compliance Show Cause Notices to nine offshore Virtual Digital Assets Service Providers (#VDA SPs)

FIU-IND writes to Ministry of Electronics and Information Technology to block URLs of the nine entities operating illegally without complying with the provisions of #PMLAct in India

Virtual Digital Assets Service Providers (VDA SPs) were brought into the ambit of Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act, 2002 in March 2023.

As part of compliance action against the offshore entities, Financial Intelligence Unit India (FIU IND) has issued compliance Show Cause Notices to following 9 offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA).

Those Exchange's list are-

Binance   
KuCoin
Gate
Huobi
Kraken      
Bittrex
Bitstamp
MEXC
Bitfinex

Always #DYOR before investing in Crypto anywhere around the world by using multiple Crypto Currency Exchanges and Trading Platforms.

‼️ ‼️ BREAKING NEWS 📰

BINANCE IS COMING BACK TO INDIA 🇮🇳 & will adhere to all rules and regulations in order to operate legally.

They ready to comply with FIU as well as PMLA

Source:- Economic times
#CRIPTOHINDUSTAN #bitcoinhalving #FIU_IND #pmla #BitcoinAwareness

Huge News     Binance was fined $2.2 million, or INR 18.82 crore, by India’s Financial Intelligence Unit (FIU).   The fine is for providing services to Indian clients without adhering to the nation's anti-money laundering rules. #Binance #Crypto #FIU_IND

#FIU_IND Notice for Global #CEXs (Actual News Link given below)...

Posted On:

28 DEC 2023 8:56PM by PIB Delhi

Financial Intelligence Unit India (FIU IND) issues compliance Show Cause Notices to nine offshore Virtual Digital Assets Service Providers (#VDA SPs)

FIU-IND writes to Ministry of Electronics and Information Technology to block URLs of the nine entities operating illegally without complying with the provisions of #PMLAct in India

Virtual Digital Assets Service Providers (VDA SPs) were brought into the ambit of Anti Money Laundering/Counter Financing of Terrorism (AML- CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act, 2002 in March 2023.

As part of compliance action against the offshore entities, Financial Intelligence Unit India (FIU IND) has issued compliance Show Cause Notices to following 9 offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA).

Those Exchange's list are-

#Binance

#KuCoin

#Gate

#Huobi

#Kraken

#Bittrex

#Bitstamp

#MEXC

#Bitfinex

Always #DYOR before investing in Crypto anywhere around the world by using multiple Crypto Currency Exchanges and Trading Platforms.

FIU Fallout? Indian Crypto Platforms Feast While Foreign Giants Fumble!

Foreign crypto giants might be sweating under the Indian FIU's scrutiny, but homegrown platforms are doing a victory dance! CoinDCX saw deposits skyrocket 2,000% and Mudrex welcomed $1 million and 10,000 new users after the recent compliance crackdown.

What's the Buzz?

The FIU sent "show cause" notices to Binance and eight other foreign exchanges, questioning their compliance with local anti-money laundering regulations. This rattled the foreign giants, but Indian platforms used it as a springboard.

Why the Indian Boom?

Local Trust: Indian platforms perceived as playing by the rules are attracting investors spooked by the foreign uncertainty.
Compliance Advantage: Homegrown exchanges already navigating Indian regulations may offer a safer haven.
Growth Opportunity: With big players under the microscope, Indian platforms see a chance to grab a bigger market share.
But Hold Your Horses:

This doesn't mean the Indian crypto scene is free and clear. Regulations are still evolving, and local platforms need to continue playing by the rules to sustain this momentum.

The Takeaway:

The FIU's move might have unintended consequences, boosting the Indian crypto ecosystem while foreign exchanges grapple with compliance woes. This is a dynamic space, so stay tuned for future twists and turns in the Indian crypto saga!
#FIU_IND #WRX

Binance is back in India 🇮🇳

✅Binance URL is back

✅Binance App is Back

Go download your binance apps now. ⬇️

#Binance #BinanceIndia #CryptoExchangeLicense #FIU_IND #FIU

‼️ BREAKING 🚨 🚨🚨🚨🚨‼️

ESPECIALLY FOR INDIAN 🇮🇳 USERS:-

BINANCE IS OFFICIALLY FIU COMPLIANT.

IF U WITHDRAW UR ASSETS FROM BINANCE FROM NOW ONWARDS,

U NEED TO PROVIDE CREDITORS AS WELL AS DEPOSITORS DETAILS LIKE AADHAR/PAN CARD (If it exceeds some set limits ) .

So try not to receive ❌ any un-identified crypto from someone bcz IT WILL LEAD TO BAN/FREEZE ON UR ACCOUNT.

#CRIPTOHINDUSTAN #FIU_IND #fiu #india_crypto #BinanceSquareFamily