Recent developments mark a significant shift in India’s approach to cryptocurrency regulation. Both Binance and KuCoin have made headway in aligning with the Indian government’s stringent financial regulations. KuCoin, by becoming the first Financial Intelligence Unit-India (FIU-India) compliant global crypto exchange, has set a precedent for regulatory compliance and is rolling out tailored financial services for the Indian market. These include localized payment solutions and educational initiatives under its KuCoin Campus program.
Binance, following in the footsteps of KuCoin, has also completed its initial registration with FIU-India. This move comes after both platforms, along with others, faced scrutiny for not adhering to the country’s anti-money laundering (AML) laws. The Financial Intelligence Unit issued compliance notices to these platforms for not registering as reporting entities, a prerequisite for operating within the legal framework set for virtua
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