Apple Withdraws Binance and Other Crypto Apps from the Indian Market Google Playstore is expected to follow the suit and delist the apps
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Apple, on Wednesday, removed Binance, the world's largest cryptocurrency exchange, from its App Store in India. It removed three offshore crypto exchanges- Binance, Kucoin and OKX, however, the impacted number can touch nine.
This move comes in less than two weeks of the Financial Intelligence Unit India issuing Show Cause Notice to nine offshore crypto platforms for alleged non-compliance with Indian anti-money laundering law.
On December 28, FIU issued the legal notice to Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
We are aware of new changes that have been introduced regarding crypto exchanges on the iOS App Store in India, impacting the Binance App.— Binance South Asia (@BinanceDesi) January 10, 2024
The ongoing situation is not unique to #Binance and we remain committed to complying with local regulations and maintaining dialogue with…
The Indian arm of the crypto exchange further noted that the existing app users will not be impacted.
The body further recommended the blocking of the URLs of these exchanges.
Google Playstore is expected to follow the suit and delist the nine.