{"id":23121,"date":"2024-06-20T16:00:23","date_gmt":"2024-06-20T13:00:23","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23121"},"modified":"2024-06-20T16:27:24","modified_gmt":"2024-06-20T13:27:24","slug":"binance-penalized-by-india-banking-regulator","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/binance-penalized-by-india-banking-regulator\/","title":{"rendered":"Binance Fined $2.25M by India&#8217;s Banking Regulator"},"content":{"rendered":"<p>India&#8217;s banking regulator has mandated that <strong>Binance<\/strong> pay penalties of 188.2 million Indian rupees ($2.25 million).<\/p>\n<p>Under the Prevention of Money Laundering Act, the Financial Intelligence Unit fined the largest cryptocurrency exchange in an order dated Wednesday for rule violations.<\/p>\n<p>Presumably for the exchange&#8217;s past operations within India without registering under the nation&#8217;s anti-money laundering (AML) rules, the regulator said that it sent a notice in December 2023 <em>&#8220;compelling <strong>Binance<\/strong> to demonstrate why appropriate action should not be undertaken against it.&#8221;<\/em><\/p>\n<p>The FIU also mentioned that it has given <strong>Binance<\/strong> particular instructions to guarantee careful adherence to national AML regulations.<\/p>\n<p>Reportedly prohibited by Indian authorities in January, company is attempting to re-enter the Indian market.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s banking regulator has mandated that Binance pay penalties of 188.2 million Indian rupees ($2.25 million). Under the Prevention of Money Laundering Act, the Financial Intelligence Unit fined the largest cryptocurrency exchange in an order dated Wednesday for rule violations. Presumably for the exchange&#8217;s past operations within India without registering under the nation&#8217;s anti-money laundering<\/p>\n","protected":false},"author":6,"featured_media":23122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[22,5514],"class_list":["post-23121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-binance-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Fined $2.25M by India&#039;s Banking Regulator - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/binance-penalized-by-india-banking-regulator\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Fined $2.25M by India&#039;s Banking Regulator - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"India&#8217;s banking regulator has mandated that Binance pay penalties of 188.2 million Indian rupees ($2.25 million). Under the Prevention of Money Laundering Act, the Financial Intelligence Unit fined the largest cryptocurrency exchange in an order dated Wednesday for rule violations. Presumably for the exchange&#8217;s past operations within India without registering under the nation&#8217;s anti-money laundering\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/binance-penalized-by-india-banking-regulator\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-20T13:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T13:27:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-20-09.38.22-A-wide-view-of-Binance-India-in-a-pop-art-style.-The-scene-features-a-modern-office-environment-with-advanced-technology-and-a-bustling-atmosphere-de.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/binance-penalized-by-india-banking-regulator\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/binance-penalized-by-india-banking-regulator\/\",\"name\":\"Binance Fined $2.25M by India's Banking Regulator - 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