Binance and KuCoin Register with India's FIU, KuCoin Resumes After $41K Fine

May 10, 2024, 10:37 AM

Crypto exchanges Binance and KuCoin have successfully registered with India's Financial Intelligence Unit (FIU), marking a significant development in the regulatory landscape for foreign cryptocurrency platforms in the country. This registration is part of India's efforts to regulate the crypto market within its jurisdiction. KuCoin, after paying a fine of $41,000, has resumed operations, while Binance is expected to follow suit after settling its financial penalties, which are still pending a final decision.