Binance registers with India's financial watchdog as it seeks to resume operations

FILE PHOTO: Smartphone with displayed Binance logo is placed on keyboard in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoMUMBAI : Binance, the world's largest cryptocurrency exchange, has registered with India's Financial Intelligence Unit , a senior FIU official said on Friday, as the exchange seeks to resume operations in the country.

India requires virtual digital asset service providers, like crypto exchanges, to be registered with the FIU as a reporting entity and comply with obligations mandated under the country's anti-money laundering rules. The FIU had issued show cause notices to 9 offshore cryptocurrency exchanges in December 2023 for non-compliance with local rules.

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