Apple has removed Binance, KuCoin and 8 other exchanges from the Indian App Store

Apple has removed Binance, KuCoin and other foreign cryptocurrency exchanges from the Indian App Store, days after the Indian government issued compliance notices to nine entities.

OKX, another popular overseas cryptocurrency exchange, was also removed from the Indian app store, although it did not receive a compliance notice. Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges that received the notification.

On December 28, the Financial Intelligence Unit (FIU) under the Ministry of Finance of India issued a compliance notice under the Prevention of Money Laundering Act (PMLA). The government has also taken preliminary measures to block “the URLs of the above-mentioned non-compliant and illegal business entities.”

However, this process requires a lot of paperwork and is still ongoing, which is why these exchange URLs are still active in India. The Indian government may also want to wait for entities to respond to the notice before taking further action, a person familiar with the matter said.

These apps continue to appear on Google PlayStore.

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Anne

According to Coindesk