Binance to pay $2.2b for violating India’s AML rules

Binance, recognized as the world’s largest cryptocurrency exchange, is in trouble with Indian law. The nation’s anti-money laundering watchdog has fined it $2.2 billion for failing to comply with regulations while catering to its clientele. Binance operates as a Virtual Digital Asset Service Provider (VDASP), which categorizes it as a Reporting Entity under the Prevention

Source: Cryptopolitan