Apple has pulled the apps of major crypto exchanges like Binance, Kraken, OKX, and KuCoin from the App Store In India.
Apple Pulls Crypto Exchanges
In a recent move, Apple has removed the apps of nine major cryptocurrency exchanges, including industry giants like Binance and Kraken, from its App Store in India. This action follows warnings issued by the Financial Intelligence Unit-India (FIU-IND), a government agency responsible for overseeing financial transactions, to these exchanges for alleged non-compliance with India’s anti-money laundering rules.
Government Crackdown
Late last month, FIU-IND raised concerns about the legality of operations by these exchanges in India. On December 28, show cause notices were sent to nine cryptocurrency exchanges – Binance, Kucoin, Houbi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. The allegations centered around their failure to register and adhere to local tax regulations.
Apple’s Swift Response
Responding swiftly to the
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