admin Binance, the world’s foremost digital asset infrastructure provider, has reached a significant milestone by registering as a reporting entity with India’s Financial Intelligence Unit (FIU-IND). This registration marks Binance’s 19th global regulatory milestone and underscores the company’s unwavering commitment to adhering to anti-money laundering (AML) standards within India’s rapidly growing virtual digital assets (VDA) market.
Richard Teng, CEO of Binance, highlighted the importance of this achievement, noting that it strategically positions Binance to better serve the dynamic and vibrant Indian market. “Recognising the vitality and potential of the Indian VDA market, this alignment with Indian regulations allows us to tailor our services for Indian users,” Teng stated. The registration with FIU-IND is particularly noteworthy as India ranks highly in global crypto adoption, with the country emerging as a key player in the future of digital finance. This move solidifies Binance’s intent to play a pivotal role in India’s VDA ecosystem.
Elevating Market Standards with World-Class Compliance
In line with its global standards, Binance is bringing its comprehensive compliance program to the Indian market. This program encompasses stringent AML policies, robust controls to combat the financing of terrorism (CFT), and thorough identity verification processes, all designed to ensure stronger protections for users. A critical component of this initiative is Binance’s industry-leading Financial Crimes Compliance (FCC) unit, which plays a vital role in assisting law enforcement agencies in investigating VDA-related crimes and enhancing the overall security and transparency of the ecosystem.
Teng further emphasised that Binance’s commitment to stringent regulation is a fundamental part of its business strategy, aimed at fostering a secure, transparent, and efficient environment within the Indian VDA space. By implementing these high standards, Binance not only contributes to the growth and maturity of India’s VDA industry but also enhances user security and overall market integrity, setting a new benchmark for the industry.
Full Access for Indian Users
With this registration, Binance has fully opened its platform and services to Indian users, offering access to its extensive suite of tools and services tailored specifically for the Indian market. As Binance continues to expand its presence in India, this move underscores its dedication to supporting the country’s evolving VDA landscape, ensuring compliance with local regulations while contributing meaningfully to the broader global crypto community.
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