India Anti-Money Laundering Unit Fines Binance $2.2 Million (1)

India’s Financial Intelligence Unit imposed a penalty of 188.2 million rupees ($2.2 million) on Binance for providing cryptoasset-related services without complying with the country’s anti-money laundering rules.

• In a statement Thursday, the unit said it “found that the charges against Binance were substantiated” after a probe that included written and oral submissions from crypto exchange
• “We are aware of the FIU’s order and are reviewing it now to determine next steps,” a Binance spokesperson said in an email
• NOTE: Indian authorities in late December began restricting access to Binance and other foreign crypto exchanges operating without local registrations
  • The other ...