India Fines Binance $2.25M for Anti-Money Laundering Non-Compliance, First Offshore Crypto Exchange Penalized

The Financial Intelligence Unit (FIU) of India has taken a significant action by imposing a hefty fine of $2.25 million on Binance. Binance’s fine marks the first time an offshore cryptocurrency exchange has been penalized by the FIU. The penalties come after a wave of warnings and website restrictions on various crypto exchanges in India.

Source: CoinOtag