New Delhi, Jan 13 (IANS) The web sites of some high international cryptocurrency exchanges like Binance, Kucoin, OKX, amongst others, have been blocked in India on January 12.This comes after the federal government despatched show-cause notices to those crypto exchanges for not complying with the nation’s cash laundering legal guidelines.
On December 28 final 12 months, a show-cause discover was despatched to Binance, Kucoin, Houbi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC World, and Bitfinex for working illegally in India. The discover was issued as a result of these corporations didn’t register and comply with native tax guidelines, stories Moneycontrol.
In consequence, the finance ministry directed the knowledge know-how ministry to dam their URLs.
Binance’s Buyer Assist additionally confirmed the event on X, saying, “We’re conscious of an IP block affecting plenty of crypto corporations, together with Binance. This solely impacts customers who try to entry the Indian iOS app retailer or the Binance web site from India. Current customers who have already got the Binance app usually are not affected.”
“We stay dedicated to the adherence of native laws and legal guidelines and we’re devoted to sustaining energetic communication with regulators to make sure consumer safety and the event of a wholesome Web3 business,” it added.
Earlier this week, Apple (NASDAQ:) eliminated some international cryptocurrency exchanges, together with Binance and Kucoin from its App Retailer in India.