India's financial watchdog fines Binance for flouting anti-money laundering norms

India's financial watchdog fines Binance for flouting anti-money laundering norms

FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on the world’s largest crypto exchange, Binance, for operating in the country in violation of local anti-money laundering regulations.