The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, will soon lift the ban on the world’s largest crypto exchange Binance after completing due diligence, a top government official said on Friday.
FIU-India lifted the ban on another offshore crypto exchange, KuCoin, in March after imposing a penalty of
Rs 34.5 lakh. Vivek Aggarwal, director of FIU-IND and additional secretary in the Department of Revenue, said in his first-ever interaction with media that Binance proceedings were still ongoing as a penalty was yet to be decided. After the crypto exchange gets registered with FIU, it will
First Published: May 11 2024 | 12:17 AM IST