Business

Binance set to re-enter India after ban by paying $2 million fine

The World’s largest Cryptocurrency exchange Binance is set to make a comeback in the Indian market by paying a $2 million fine and registering as a Financial Intelligent Unit firm ( FIU ) according to a report.


According to CoinDesk, Binance, and nine other crypto exchanges were removed from the Apple store in India and effectively banned after India’s Financial Intelligence Unit sent them compliance show cause notices.


OKX, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex were the other firms that were sent notices at the time.