Apple has banned Binance, KuCoin and other offshore exchanges from its Indian App, days after nine crypto exchanges were sent non-compliance notices by the Indian government. Deleted from Store.
OKX, another prominent offshore exchange, was also removed from the App Store, although no notification was sent from the government. The nine exchanges notified are Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC, and Bitfinex.
On December 28, 2023, the Financial Intelligence Unit (FIU) of the Ministry of Finance of India issued a compliance notification under the Prevention of Money Laundering Act (PMLA). The government also took steps to block the URLs of “such organizations that operate illegally without complying with (the law).”
However, these exchange URLs are still working in India because the process requires extensive documentation and is still ongoing, a person familiar with the matter told CoinDesk. The Indian government may be waiting for the companies to respond to the notices before taking further action, the person said.
Each app continues to be listed on the Google PlayStore.
Apple and FIU could not be reached for comment.
｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Original text: Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store