Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Binance and KuCoin Register with India’s Top Financial Regulator
EXCHANGE NEWS

Binance and KuCoin Register with India’s Top Financial Regulator

By Crypto FlexsMay 11, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Binance and KuCoin Register with India’s Top Financial Regulator
Share
Facebook Twitter LinkedIn Pinterest Email

KuCoin has already paid a $41,000 fine and resumed operations in India, but Binance is yet to complete its compliance process.

At the end of last year, the Indian government granted access to nine foreign cryptocurrency exchanges, including Binance Holdings Ltd, KuCoin, Huobi, and Kraken, through the Financial Intelligence Unit of India (FIU IND). Blocked. However, the Indian government has now started the process of returning blocked foreign cryptocurrency exchanges to register.

Last Friday, FIU IND announced that Binance and KuCoin are now registered as Virtual Digital Asset Service Providers (VDASPs) in the country. As a result, two competing cryptocurrency exchanges are now competing for the Indian cryptocurrency market.

However, Binance has not yet completed its compliance procedures, resulting in unpaid fines. As Coinspeaker previously revealed, Binance is willing to pay a fine of up to $2 million to the Indian government to obtain permission to operate.

“Binance is registered, but the compliance process is not complete as I have to determine the amount of the penalty and the hearing is still ongoing,” said Vivek Aggarwal, head of FIU.

On the other hand, KuCoin resumed operations in India after paying a fine of about $41,000 to the Indian government. The Indian government is also reviewing the cases of other overseas cryptocurrency exchanges led by Kraken, Gemini, and Gate.io.

Meanwhile, Bitstamp and OKX cryptocurrency exchanges have submitted plans to exit the Indian market.

Direct impact of Binance and KuCoin’s re-entry into the Indian market

India is one of the most coveted cryptocurrency markets in the world as it has a large population already invested in digital assets. With the Indian government already enacting strict and clear cryptocurrency regulations, more overseas web3 companies are focusing on entering the Indian market.

The re-entry of Binance and KuCoin into the Indian market will pave a clear path for other foreign web3 companies to enter the Indian market. The announcement from the Indian regulator indicates that the government is no longer hostile to the cryptocurrency industry as previously perceived.

Moreover, the Reserve Bank of India is not as vocal about the cryptocurrency industry as it was a few years ago.

Binance and KuCoin’s entry into the Indian market will have a major impact on their respective native coins. For Binance, the adoption of BNB in ​​the Indian market will further boost its bullish outlook.

According to the latest market data, BNB price hovered around $595 on Friday and is up 5.3% over the past week. With a fully diluted value of around $91 billion, the large-cap altcoin is on the verge of hitting an all-time high soon if the bullish momentum holds.

On the other hand, KuCoin’s native coin, KCS, rose more than 6.6% last week and was trading at around $10.5 on Friday.

next

Binance News, Cryptocurrency News, News

thank you!

You have successfully joined our subscriber list.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025

Vechain is a crawling for the Renaissance upgrade among the veterinarian price pressure.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025

Ray for the square and scalable AI solutions and RAG pipelines on all scale

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025
Most Popular

🔥Weekly Altcoin Report: FAKEAI +1,465% (30 days)

March 2, 2024

Polygon (MATIC) (POL) launches Ahmedabad upgrade on PoS mainnet

September 26, 2024

Revolut expands cryptocurrency offering to include FLOKI tokens

April 24, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.