India Considers Allowing Foreign Crypto Exchanges to Resume Operations
CryptoNewsTerminal Staff05 Sep, 2024
India Considers Allowing Foreign Crypto Exchanges to Resume Operations
India's Financial Intelligence Unit (FIU) is reportedly examining a proposal to permit four overseas crypto exchanges to restart operations in the country. This move comes after the successful resumption of operations by Binance and Kucoin, which had faced penalties for non-compliance. Sources familiar with the matter have indicated that at least two of the four exchanges could be granted permission to resume their services by the end of the financial year 2025. The FIU's decision is expected to provide clarity on the regulatory framework for crypto exchanges operating in India and potentially boost the growth of the country's digital asset market.
