Binance reappears on Indian app stores after securing key FIU-IND registration

Binance has scored a caller regulatory milestone by registering with India’s Financial Intelligence Unit (FIU-IND), according to an Aug. 15 connection shared with CryptoSlate.

This registration expands Binance’s compliance to 19 jurisdictions, the highest fig for immoderate crypto trading platform. The speech views these registrations arsenic grounds of its committedness to anti-money laundering (AML) standards and creating a secure, transparent, and businesslike trading environment.

Binance CEO Richard Teng highlighted the value of this registration with the Indian market, stating that this regulatory alignment allows the institution to amended service Indian users.

He added:

“Our committedness to stringent regularisation forms a cardinal portion of our concern strategy. It’s astir fostering a secure, transparent, and businesslike environment.”

Chainalysis information ranks India among the apical 5 countries for crypto adoption. The state has a important transaction measurement crossed centralized and decentralized exchanges, lending protocols, and token astute contracts.

Return to the app store

Following the registrations with the authorities, Binance announced that its website and applications are present afloat operational for Indian users.

Already, respective Indian crypto enthusiasts person confirmed connected societal media level X that Binance’s exertion has reappeared connected India’s Google Play Store and Apple App Store aft a seven-month hiatus.

In January, India’s fiscal regulator blocked Binance’s website and mobile apps, on with those of 8 different crypto exchanges, owed to non-compliance with section laws. By June, reports aboriginal emerged that FIU imposed a $2.2 million good connected Binance for non-compliance with the country’s AML regulations.

It was unclear if the steadfast had paid this good earlier relaunching its services successful the Asian country.

Meanwhile, Binance continues to look important tax challenges successful India. Earlier successful the month, CryptoSlate reported that the Directorate General of Goods and Service Tax Intelligence (DGGI) had demanded 722 crore Indian rupees ($86 million) from the steadfast for overdue Goods and Services Tax (GST).

The station Binance reappears connected Indian app stores aft securing cardinal FIU-IND registration appeared archetypal connected CryptoSlate.