Apple Store Removes Binance and Other Global Exchanges’ Apps in India Amid Wider Crackdown The mobile applications of several global cryptocurrency exchanges,
including Binance, Kraken, Mexc, and Kucoin, have disappeared from Apple’s App Store in India. This move comes within two weeks of these exchanges being flagged for operating “illegally” in the country. As reported earlier,
the Financial Intelligence Unit (FIU), an Indian government agency responsible for scrutinizing financial transactions,
had issued show cause notices to nine crypto firms, alleging non-compliance with India’s anti-money laundering rules. The FIU urged India’s IT Ministry to block the websites of all nine crypto services in the country. The affected exchanges also include
Huobi, Gateio, Bittrex, and Bitfinex. However,
Bitstamp, another exchange named by the FIU, remains operational on the App Store in India. The apps of the affected exchanges are still available on the Google Play Store,
and their websites remain accessible in the country. Apple has not provided an immediate response to inquiries regarding this matter. The government of India imposed taxes
on virtual currencies last year, including a 30% tax on gains and a 1% deduction on each crypto transaction. Many Indian traders have reportedly migrated
to global cryptocurrency platforms to potentially evade taxes, leading to a significant drop in trading volume for India-based exchanges like WazirX.
