Binance slapped with $2.25-M penalty by Indian financial watchdog

India’s Financial Intelligence Unit (FIU) has imposed a penalty of Rs 18.82 crore ($2.25 million) on Binance, the world’s largest cryptocurrency exchange, for violating local anti-money laundering (AML) regulations. Violations and penalties detailed The FIU found Binance guilty of failing to comply with various sections of the Prevention of Money Laundering Act of 2002 (PMLA)

Source: Invezz