Binance restarts services in India after seven-month regulatory halt

Quick Summary:

Binance, the world’s largest cryptocurrency exchange, has resumed operations for users in India after a seven-month hiatus imposed by a local authority for operating “illegally” in the country.

The exchange said Thursday it has registered as a reporting entity with India’s Financial Intelligence Unit (FIU), a government agency tasked with scrutinizing financial transactions.

Following significant workforce reductions in 2022 and 2023, this year has already seen 60,000 job cuts across 254 companies, according to independent layoffs tracker Layoffs.fyi.

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Article Details

Author / Journalist: Manish Singh

Category: Technology

Markets: United StatesIndia

Topics: Crypto Apps

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 07:12:16 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 972 words

Reading Time: 6 minutes read

Sentences: 43 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 22085034

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