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TechFlow news: Binance and KuCoin have successfully completed registration with India's Financial Intelligence Unit (FIU).
KuCoin paid a $41,000 fine during the process, while Binance's penalty amount will be determined after a hearing. Binance has not yet resumed operations, as its fine-related matter remains unresolved.
This marks the first time overseas cryptocurrency-related entities have received approval from India's anti-money laundering authority.
Binance and KuCoin have successfully completed registration with India's Financial Intelligence Unit (FIU). KuCoin paid a $41,000 penalty during the process, while Binance's penalty amount will be determined after a hearing. Binance has not yet resumed operations, as its penalty matter remains unresolved. This marks the first time overseas cryptocurrency-related entities have received approval from India's anti-money laundering authority.
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