Indian Users Face Binance Website Blockage After Government Non-Compliance Warning
Portfolio Pulse from Khyathi Dalal
The Indian government has blocked access to the Binance website and iOS app for users in India due to non-compliance with regulations. Binance confirmed the IP block but stated that existing users with the app pre-installed are not affected. The blockage follows a warning from India's Financial Intelligence Unit to several crypto exchanges for not adhering to anti-money laundering regulations. Other exchanges like Kucoin, OKX, Huobi, Gate.io, and Bitstamp are also affected. Apple has removed global cryptocurrency exchanges from its Indian app store.

January 12, 2024 | 8:32 pm
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Apple has removed global cryptocurrency exchanges from its Indian app store, which may affect the availability of these apps for Indian users.
While the removal of cryptocurrency exchange apps from Apple's Indian app store is significant, it is a localized issue and may not have a substantial short-term impact on Apple's stock price. The company's vast global presence and diversified product portfolio mitigate the impact of such regional regulatory actions.
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