In a significant turn of events for the cryptocurrency landscape in India, Binance, a leading global exchange, has received the green light to re-enter the Indian market. Following months of regulatory friction and accusations of non-compliance, Binance has agreed to pay a hefty fine of $2 million to resume operations in the country.
In a groundbreaking move that could reshape the landscape of cryptocurrency trading in India, Binance, one of the world's largest digital asset exchanges, has announced its return to the Indian market. After navigating regulatory hurdles and agreeing to comply with stringent financial laws, including the Prevention of Money Laundering Act (PMLA) and taxation rules for digital assets, Binance is poised to make a triumphant comeback.
According to sources familiar with the matter, Binance, the world's largest cryptocurrency exchange, plans to re-enter India by paying a $2 million penalty.
Once the undisputed kingpin of the Indian crypto market, Binance faced a regulatory storm that led to its temporary exit. The catalyst?
Crypto exchange Binance is set to return to India after months away from the nation. Indian regulators accused Binance of failing to comply with local policies.
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