{"id":36041,"date":"2024-08-15T09:07:20","date_gmt":"2024-08-15T09:07:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-completes-aml-registration-in-india\/"},"modified":"2024-08-15T09:07:20","modified_gmt":"2024-08-15T09:07:20","slug":"binance-completes-aml-registration-in-india","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-completes-aml-registration-in-india\/","title":{"rendered":"Binance Completes AML Registration in India"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Binance has successfully registered with India\u2019s Financial Intelligence Unit, aligning itself with the country\u2019s anti-money laundering (AML) standards. This move marks Binance\u2019s 19th regulatory achievement globally and demonstrates the company\u2019s commitment to maintaining transparency and compliance in the markets it operates.<\/p>\n<p>Announced on August 15, Binance highlighted this registration as a step forward in its mission to create a <em>\u201ctransparent and efficient ecosystem.\u201d<\/em> The exchange is now close to securing its 20th global registration, a milestone CEO Richard Teng described as an <em>\u201cimportant milestone in Binance\u2019s journey.\u201d<\/em> He also said that aligning with Indian regulations allows Binance to better serve the country\u2019s growing virtual digital asset (VDA) market.<\/p>\n<p>This registration also means Binance can resume operations in India after being <a href=\"https:\/\/igaming.org\/crypto\/binance-addresses-user-concerns-during-regulatory-challenges-in-india\/\">banned<\/a> for seven months by local authorities due to operating without proper registration. The ban had <a href=\"https:\/\/igaming.org\/crypto\/apples-india-app-store-drops-binance-kucoin-following-government-notice\/\">also impacted<\/a> other major crypto exchanges like KuCoin, Huobi, and Kraken, which were required to comply with India\u2019s AML and counter-terrorism financing regulations.<\/p>\n<p>Earlier this month, Binance faced a show-cause notice from India\u2019s tax enforcement agency, demanding around <a href=\"https:\/\/igaming.org\/crypto\/binance-faces-86m-gst-bill-from-indian-authorities\/\">$86 million<\/a> in goods and services tax (GST). The Directorate General of GST Intelligence (DGGI), under India\u2019s Ministry of Finance, alleges that Binance collected fees from Indian users without registering under the GST framework, leading to the tax liability.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/binance-completes-aml-registration-in-india\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Binance has successfully registered with India\u2019s Financial Intelligence Unit, aligning itself with the country\u2019s anti-money laundering (AML) standards. This move marks Binance\u2019s 19th regulatory achievement globally and demonstrates the company\u2019s commitment to maintaining transparency and compliance in the markets it operates. Announced on August 15, Binance [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":36042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36041"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36041"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36042"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}