India Orders Binance to Pay a $2.25 Million Fine
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India’s financial watchdog has ordered Binance to pay a penalty of 188.2 million Indian Rupees ($2.25 million) for violating the country’s Prevention of Money Laundering Act.
The order, dated Wednesday, comes after the regulator issued a notice to Binance in December 2023, questioning its compliance with anti-money laundering regulations and its services to local clients without proper registration.
In response, the FIU has sent directives to Binance to ensure strict adherence to India’s AML laws.
Despite being banned by Indian regulators in January, Binance is reportedly attempting to return to the Indian market.
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