Binance gets multi-million dollar fine in India

India's anti-money laundering authority is fining Binance US$2.2 million. This is due to violations of money laundering laws.

"After reviewing the written and oral submissions, the Director of the Anti-Money Laundering Authority has determined, based on the available documentation, that the allegations against Binance are proven," the authority document said.

In January of this year, a number of foreign Bitcoin exchanges, including Binance, had to temporarily suspend their services in India. KuCoin and Binance have since regained their trading licenses - the latter, however, under the condition of the aforementioned penalty.