Regulatory Challenges for Binance
Cryptocurrency exchange Binance is facing new challenges in the international market. India’s Financial Intelligence Unit has imposed a $2.2 million fine on the company for providing services without complying with anti-money laundering (AML) regulations. This incident highlights the growing trend of increasing regulation within the cryptocurrency industry across various countries.
Ongoing Regulatory Issues
This is not the first time Binance has encountered regulatory problems, prompting the company to adapt and tighten its internal procedures to meet international standards.