Mumbai: India's Financial Intelligence Unit (FIU) imposed a fine of Rs 18.82 crore ($2.25 million) on Binance, the world's largest crypto exchange, for operating in the country in violation of local anti-money laundering regulations.
In May, Binance had registered with the FIU as the exchange sought to resume operations in the country after being issued a show-cause notice by the financial watchdog in December 2023, along with eight other offshore exchanges that were operating in violation of local rules. ($1 = 83.4970 Indian rupees)
Published 20 June 2024, 06:08 IST