MUMBAI (Reuters) – India’s Financial Intelligence Unit (FIU) imposed a fine of 188.2 million rupees ($2.25 million) on Binance, the world’s largest crypto exchange, for operating in the country in violation of local anti-money laundering regulations.
In May, Binance had registered with the FIU as the exchange sought to resume operations in the country after being issued a show-cause notice by the financial watchdog in December 2023, along with eight other offshore exchanges that were operating in violation of local rules.
($1 = 83.4970 Indian rupees)
($1 = 83.4940 Indian rupees)
(Reporting by Jaspreet Kalra; Editing by Sohini Goswami)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.