Binance has been fined $2.25 million (Rs 18.82 crore ) by India’s Financial Intelligence Unit (FIU) for violating the country’s anti-money laundering regulations, reports Reuters. “After considering the written and oral submissions of Binance, the Director, FIU-IND, based on the material available on record, found that the charges against Binance were substantiated” the financial watchdog
A fresh set of ‘alert indicators’ have been issued by India’s financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime. These new guidelines have been issued under
In what may turn into a massive blow for cryptocurrency sector in India, Centre’s Financial Intelligence Unit (FIU), which is under the Finance Ministry, has issued show cause notices to as many as 9 offshore cryptocurrency and virtual digital assets platforms, including Binance and Kucoin. The notifications were issued for non-compliance with anti-money laundering law.