Binance, one of the world's leading cryptocurrency exchanges, has made a dramatic return to India after being banned for seven months due to regulatory noncompliance. As of August 15, Binance’s website and mobile apps have reappeared on India’s Google Play Store and Apple App Store, marking a significant shift in its operations in the country.

The ban, initiated by India’s Financial Intelligence Unit (FIU-IND) in January, targeted Binance and eight other crypto exchanges that failed to register as reporting entities, a legal requirement aimed at combating money laundering. The FIU-IND is a key government agency responsible for monitoring financial crimes and enforcing compliance among financial institutions.

Binance's reentry into the Indian market follows its registration as a reporting entity with the FIU-IND. This move is seen as a critical step for the exchange to align with local regulations and secure its position in a market with immense potential. While there were rumors of Binance paying a $2.25 million fine to resolve its noncompliance issues, the exchange has not confirmed this.

Binance CEO Richard Teng emphasized the importance of the Indian market, stating that the company’s compliance with Indian regulations is part of its broader strategy to offer secure and transparent services to Indian users. The exchange has also committed to implementing Anti-Money Laundering (AML) policies and a framework to combat the financing of terrorism in India.

This return to India is Binance’s 19th global regulatory milestone and follows its recent acquisition of a crypto license in Dubai. Binance’s renewed focus on compliance and regulation marks a new chapter in its global expansion strategy.

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