Binance Registers With FIU as It Seeks to Resume Operations in India

Binance Registers With FIU as It Seeks to Resume Operations in India

ByNews Polite

Binance, the world’s largest cryptocurrency exchange, has registered with India’s Financial Intelligence Unit (FIU), a senior FIU official said on Friday, as the exchange seeks to resume operations in the country. The exchange was barred from operating in India in December for non-compliance with local regulations as part of the…

OKX Exits India’s Crypto Space Failing to Meet Legal Requirements

OKX Exits India’s Crypto Space Failing to Meet Legal Requirements

ByNews Polite

India has tightened its noose around crypto-related businesses, mandating sector firms to comply with certain legal requirements. Failing to comply with these rules, crypto exchange OKX has decided to exit India’s crypto sphere. The Seychelles-headquartered exchange informed its Indian community on March 21 that they should close their accounts on…

Financial Intelligence Unit Imposes Penalty of Over Rs. 5 Crore on Paytm Payments Bank

Financial Intelligence Unit Imposes Penalty of Over Rs. 5 Crore on Paytm Payments Bank

ByNews Polite

India’s Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm’s banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country’s finance ministry said. The FIU initiated a review of Paytm Payments Bank after information from law enforcement…