Binance received official registration from India’s Financial Intelligence Unit after months of tussle with regulators. Binance is the second offshore crypto exchange to receive the anti-money laundering unit’s approval after KuCoin. BNB price wiped out 1% of its value this week. The Financial Intelligence Unit’s director gave on Friday a statement on the initial registration of the exchange.
Reports from a local news outlet Moneycontrol state that Binance is working on resuming its operations in India after the exchange has acquired an official registration with the FIU. The agency’s director, Vivek Aggarwal, said at a workshop conducted by Bharat Web3 Association in New Delhi that KuCoin is fully registered and operational after paying a penalty of INR 3.45 million . Aggarwal said that Binance is yet to resume operations and the penalty has not been decided yet.