Google Play Store in India blocks Binance, OKX in response to FIU notice

Google’s Play Store in India has removed Binance and OKX crypto exchange apps after the government issued a noncompliance notice against them. The removal follows a similar decision by Apple’s App Store in India in December 2023.

On Dec. 28, 2023, the Indian Ministry of Finance’s Financial Intelligence Unit (FIU) issued a notice to Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex and Bitfinex for operating illegally in India.

The FIU notice stated that any exchange providing services to Indian users must register as a “reporting entity” and submit statements to the income tax department. The FIU proposed that the Ministry of Electronics and Information Technology block the websites of the mentioned exchanges due to non-compliance.

Although Google’s Play Store blocked Binance and OKX, the Binance application and website are still available and working for existing users.

#news #india #binance

Jan-15-2024 09:10:23 AM