Cryptocurrency exchange Binance website is currently blocked for users in India, following a government warning regarding non-complinace of rules and regulations.
What Happened: Binance confirmed that it is aware of the IP block impacting the Indian iOS App Store and the Binance website from India. Existing users who have the app pre-installed are not affected.
Binance has ensured that users’ funds are safe and that it is looking to inform constructive policy-making benefitting all users and market participants.
We are aware of an IP block affecting a number of crypto firms, including Binance. This only impacts users who attempt to access the Indian iOS app store or the Binance website from India. Existing users who already have the Binance app are not affected.
— Binance Customer Support (@BinanceHelpDesk) January 12, 2024
We remain committed to…
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The news comes after Apple APPL announced the removal of global cryptocurrency exchanges from its Indian app store. The website URLs for other cryptocurrency exchanges like Kucoin, OKX, Huobi, Gate.io and Bitstamp are also blocked.
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Why It Matters: On Friday, Aditya Singh, the co-founder of Crypto India tweeted "GOI just liquidated URL access for Crypto Exchanges like Binance, Kucoin, Okx, etc.who were issued notice by FIU and were given 2 weeks time to respond."
Singh was referencing the Financial Intelligence Unit's (FIU) Dec. 28 warning to nine digital asset service providers for not adhering to the country's anti-money laundering regulations. The exchanges include Binance, Kucoin, Houbi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Globa, and Bitfinex.
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