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Binance is now following the registration process, paying a $2.25 million penalty. This move aims to re-enter India's large cryptocurrency market and comply with local regulations, including the 1% TDS on transactions.
#crypto #threadstorm #outreach
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In December, India's Financial Intelligence Unit blocked nine international exchanges, including Binance, for non-compliance. KuCoin was the first to register and pay the penalty.
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https://inleo.io/@alokkumar121/fiu-india-penalized-binance-225-million-for-aml-rule-violations-cky