---
title: "Binance resumes operations in India, confirms regulatory compliance"
url: https://diffcoin.com/binance-resumes-operations-in-india-confirms-regulatory-compliance/
description: "Binance resumes services in India, fully compliant with local anti-money laundering laws after settling a $2.25 million penalty."
published: 2024-08-15
updated: 2024-08-15
author: "Mila"
site: "Diffcoin"
---

# Binance resumes operations in India, confirms regulatory compliance

### Key Takeaways

- Binance has officially registered as a reporting entity with India’s financial regulators.
- The exchange has resumed services in the market in compliance with local regulations.

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Binance has officially resumed services in India after registering as a reporting entity with India’s Financial Intelligence Unit (FIU-IND), said the company in a Thursday blog announcement. The development marks Binance’s 19th global regulatory milestone.

Before this registration, the world’s leading crypto exchange was penalized by the FIU-IND for failing to comply with statutory obligations. In June, the FIU fined Binance $2.25 million for not adhering to the Prevention of Money Laundering Act’s requirements, including record-keeping and reporting suspicious activities.

With the registration, Binance’s website and app are now accessible to Indian users, offering a full range of services. The firm said the move highlights Binance’s strategic focus on expanding its presence in key markets and complying with local regulations.

> “Our registration with the FIU-IND marks an important milestone in Binance’s journey,” said Richard Teng, CEO of Binance.

> “Recognizing the vitality and potential of the Indian VDA market, this alignment with Indian regulations allows us to tailor our services for Indian users. It is a privilege to extend the reach of our cutting-edge platform to this thriving market, supporting India’s continued VDA evolution,” he noted.

Binance will implement its robust anti-money laundering (AML), combating the financing of terrorism (CFT), and know-your-customer (KYC) procedures in India to safeguard users and elevate industry standards.

![Sapphire](https://static.cryptobriefing.com/wp-content/uploads/2024/03/18060845/600x500.jpg)

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