India's Anti-Money Laundering Department announced on Thursday that Binance was fined around $2.20 million for providing services to customers in the country in violation of India's anti-money laundering regulations. In May, Binance, along with KuCoin, became one of the first offshore crypto-related entities to receive approval from India's Financial Intelligence Unit (FIU) on the condition that the fine be paid following a hearing by the FIU. The FIU said in a statement that after considering Binance's written and oral submissions, the Director of FIU-IND, based on the material on record, found that the allegations against Binance were founded and, therefore, the Director of FIU-IND ordered a total fine of approximately $2.20 million against Binance with clear instructions to ensure diligent performance of its obligations.