India Fines Binance $2.25 Million for Anti-Money Laundering Violations

The world's largest crypto exchange is penalized for non-compliance with India's stringent financial regulations.

India's Financial Intelligence Unit imposed the fine for Binance's failure to adhere to the Prevention of Money Laundering Act.
Binance and other offshore exchanges were issued notices for operating in India without proper registration.
The fine follows Binance's recent registration with India's FIU, conditional on compliance and penalty payment.
Crypto leaders in India emphasize the importance of regulatory compliance for industry stability and user protection.
Binance has faced similar regulatory actions in other countries, including the US and Canada.