Binance, KuCoin Win Registration With India's Financial Intelligence Unit
Summary
Binance and KuCoin, two of the world's largest cryptocurrency exchanges, have registered with India's Financial Intelligence Unit (FIU), marking the first time offshore crypto entities have been approved by the country's anti-money laundering unit. Previously, both exchanges were among nine offshore entities banned by India. KuCoin has already paid a $41,000 fine and resumed operations. Binance's financial penalty is yet to be determined following a hearing with the FIU, and it has not resumed operations.
