Binance has registered as a reporting entity with India’s Financial Intelligence Unit (FIU). This achievement marks Binance’s 19th global regulatory milestone.
Richard Teng, CEO of Binance, commented:
“Our registration with the FIU-IND marks an important milestone in Binance’s journey. Recognizing the vitality and potential of the Indian VDA market, this alignment with Indian regulations allows us to tailor our services to the needs of Indian users. It is a privilege to extend the reach of our cutting-edge platform to this thriving market, supporting India’s continued VDA evolution.”
India leads the world in grassroots crypto adoption, according to Chainalysis’ 2023 Global Crypto Adoption Index. The country ranked in the top five by estimated transaction volume across centralized and decentralized exchanges, lending protocols, and token smart contracts. This highlights the vibrancy and massive potential of the Indian market.
Richard Teng added:
“Our commitment to stringent regulation forms a fundamental part of our business strategy. It’s about fostering a secure, transparent, and efficient environment.”
