Binance has been fined $2.25 million by India’s Financial Intelligence Unit (FIU) as the crypto exchange firm continues to battle court trial in Nigeria. In May, Binance had registered with the FIU as the exchange sought to commence operations in the country after the unit issued show-cause notices to nine offshore exchanges operating in violation of local rules. FIU said the fine against Binance was for violating its money laundering law. The Indian Authority said Binance as a registered entity in the country, has violated three sections of the country’s Prevention of Money Laundering Act (PMLA), 2002. “Consequently, due to
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