Binance and KuCoin recently completed registering with India’s Financial Intelligence Unit (FIU), which is a major step forward for the country’s cryptocurrency sector. This is a major milestone on the road to legalization and compliance with Indian regulations. Importantly, KuCoin has quickly paid a substantial fine of $41,000, allowing it
In order to accommodate the needs of the Web3 and cryptocurrency communities, the Bharat Web3 Association (BWA), the highest organization representing Web3 businesses in India, has proposed a number of measures and policies for the next government to consider. At a time when rules are tightening up all around the
Although the Indian government outright banned Binance earlier this year, the biggest cryptocurrency exchange in the world is getting ready to rejoin the Indian market. According to those familiar with the situation, Binance’s re-entry plan includes paying a fine of around $2 million. In order to demonstrate its dedication to
Crypto exchange OKX has decided to end its operations in India, about three months after nine international exchanges were sent compliance letters by the Financial Intelligence Unit (FIU) of India’s Ministry of Finance. Please close your accounts and withdraw your assets before April 30th, OKX said in a notification addressed
According to Edul Patel, CEO and co-founder of Mudrex, an Indian cryptocurrency investing platform, institutional and individual investors in India will soon be able to purchase U.S. spot bitcoin (BTC) ETFs. Since this was previously accessible to retailers, Patel said in an interview that it is far more beneficial to
Core Foundation aims to support Indian developers in building dApps on Core Chain, the first Bitcoin-Aligned EVM-compatible blockchain. 7 March, 2024 – Core Foundation has announced a $5 million Innovation Fund to advance India’s dApp ecosystem on Core Chain, the Bitcoin-secured and EVM-compatible blockchain. This fund aims to empower Web3
Amid a global crypto bull market, the Indian crypto community woke up to a rollercoaster ride on their local exchanges as Crypto/INR rates experienced a downward spiral. However, whilst the chaos, founders of major Indian exchanges stepped forward, shedding light on the situation from their unique perspectives. Nischal Shetty, co-founder
Bitcoin has once again captured the spotlight with its meteoric rise, trading at $59,334.26 with a staggering 4.94% surge. In just 24 hours, BTC broke major key resistance levels at $57,000, $58,000, and $59,000, and is now tantalizingly close to the $60,000 mark. Notably over the past seven days, BTC
The Financial Intelligence Unit (FIU) issued non-compliance notices to several major foreign crypto exchanges in December 2023, demanding adherence to KYC and AML regulations. This was followed by app store bans and URL blocking, effectively shutting down access for Indian users. The foreign crypto exchanges are Binance, HTX, Kraken, Gate.io,
We at KoinBX reaffirm our steadfast commitment to compliance and regulations while providing traders with a secure and intuitive trading experience. As a Financial Intelligence Unit (FIU) registered exchange, we offer a wide range of features and benefits designed to empower traders and ensure their confidence in the platform. At
