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Binance, the world’s leading cryptocurrency exchange, reportedly seeks to re-establish its presence in the Indian market after being banned by the country’s local government earlier this year.
Binance’s Cost To Return To India
According to a recent report from India’s Economic Times, the exchange intends to return as a registered entity, aiming to comply with the country’s anti-money laundering laws and tax regulations.
This strategic move entails paying a hefty $2 million penalty as part of its efforts to “reform” its South Asian entity.
Notably, this development follows the Indian government’s action against 9 crypto websites, including Binance, in January for their alleged involvement in illegal operations that violated local regulations. This crackdown led to the removal of crypto exchange apps from the region’s Apple and Google stores.
Despite these challenges, Binance South Asia’s X account noted in January that the exchange remains “committed

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