# Binance Relaunches in India After Paying Fine

*Author: David Christopher*
*Published: Aug 15, 2024*
*Source: https://www.bankless.com/binance-has-resumed-operation-in-india-after-paying-a-2-25m-fine-to-indias-financial-intelligence-unit-fiu*

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Binance has resumed offering services in India after paying a $2.25M fine to India’s Financial Intelligence Unit (FIU).

## What’s the scoop?
- **Regulatory Compliance:** The exchange is now registered as a "[reporting entity](https://www.binance.com/en/blog/regulation/binance-achieves-its-19th-global-regulatory-milestone-with-registration-in-india-3022489348045738409)" with the FIU, signaling its compliance with India’s anti-money laundering regulations.
- **Previous Blockade:** Binance, along with eight other crypto platforms, has been blocked from operating in India since January due to non-compliance with local laws.

## Bankless Take:
Binance's re-entry into India reflects a win for the exchange in navigating tight regulatory landscapes, especially given concerns that the [recent WazirX hack](https://www.bankless.com/indian-exchange-wazirx-hacked-for-230m) would set back India’s adoption of crypto. As the country with the [highest adoption of crypto last year](https://www.bankless.com/asia-market-is-cryptos-secret-weapon), despite stringent regulatory requirements and [high capital gains taxes](https://koinly.io/guides/crypto-tax-india/), India is a critical market to have a presence in.