TechFlow news: India's Financial Intelligence Unit has fined Binance $2.2 million for failing to comply with anti-money laundering regulations.
In January 2024, Binance and several other offshore cryptocurrency exchanges received show-cause notices from Indian authorities for "illegal operations" and were subsequently expelled from India.
However, in May, Binance and KuCoin became the first offshore crypto-related entities to receive approval from India's Financial Intelligence Unit (FIU), conditional upon payment of the penalty following hearings with the FIU.




