At press time, Binance has not issued any public statements regarding the matter. In March, the Ministry of Finance in India mandated that all crypto businesses register with the FIU and adhere to PMLA provisions. The regulation of crypto in India has been a divisive issue, with regulators having differing opinions on how to handle the burgeoning industry.
Meanwhile, the Reserve Bank of India has upheld its position on crypto and advocated for a complete ban on digital assets.