Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store
January 10, 2024 ・0 comments ・Topic： #crypto news INDIA
Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex were sent showcause notices by the Indian government.
Apple has removed Binance, KuCoin and other offshore cryptocurrency exchanges from its India app store days after nine entities were sent compliance show cause notices by the nation's government.
OKX, another prominent offshore cryptocurrency exchange, has also been removed from the Apple India app store even though it wasn’t sent a show cause notice. Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges that were sent notices.
📢 JUST IN: Apple has removed #Binance, #KuCoin, #OkX and other offshore cryptocurrency exchanges from its India 🇮🇳 app store days after nine entities were sent compliance show cause notices by the nation's government.#Cryptonews pic.twitter.com/OOJTEAo7qi
— BNB Swap (@BNBSwap) January 10, 2024
On Dec. 28, India’s Financial Intelligence Unit (FIU) which falls under the nation’s Finance Ministry, issued compliance show cause notices under its Prevention of Money Laundering Act (PMLA). The government also took the first steps to block the URLs of "said entities that are operating illegally without complying.
However, that process requires extensive paperwork and is still ongoing, which is why the URLs are still working in India for these exchanges, a person familiar with the matter told CoinDesk. The Indian government may also want to wait for the entities to respond to the notices before taking further action, the person said.
The apps continue to show on Google PlayStore.
Apple India or the FIU could not be reached immediately for comment.
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