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Binance assures safety of Indian users’ accounts and funds after Apple’s delisting

Inc42 · 1y ago

Binance assures safety of Indian users’ accounts and funds after Apple’s delisting

Tech giant Apple has recently removed Binance, Kucoin, and OKX, among other offshore crypto exchanges, from its India app store. Binance has assured its users that their accounts and funds are secure, while also committing to adhering to local regulations and maintaining communication with regulators around the world. The Indian government has issued show cause notices to nine virtual digital asset service providers for non-compliance with anti-money laundering laws, potentially leading to further actions, including a ban on the Indian operations of overseas cryptocurrency apps. Despite challenges, India ranked first in Chainalysis' 2023 Global Crypto Adoption Index.

Related News

Monero Drops 17% as Binance Delists XMR

Startup News FYI

Startup News FYI · 1y ago

Monero Drops 17% as Binance Delists XMR

Crypto exchange Binance has announced its decision to delist privacy coin Monero (XMR) along with other assets like Aragon (ANT), Multichain (MULTI), and Vai (VAI) on February 20. Following the news, Monero's price dropped 17%, currently trading at $138. Binance stated that the delisting was based on criteria such as trading volume, liquidity, stability, safety, public communication, and evidence of unethical or fraudulent conduct. Deposits will no longer be credited after the delisting, but withdrawal support will continue until May 20.

WhatsApp monitors fraudulent activities, scams; bans 9.96 million Indian accounts

Economic Times

Economic Times · 5m ago

WhatsApp monitors fraudulent activities, scams; bans 9.96 million Indian accounts

In January 2025, WhatsApp banned 9.96 million Indian accounts to combat abuse and fraud, utilizing its AI-driven detection systems. This initiative, part of the company’s compliance with the IT Rules 2021, helps identify illegal content and harmful activities. WhatsApp assures accountability through a grievance redressal mechanism and adherence to the Grievance Appellate Committee’s directives. Despite receiving 9,474 grievances, only 239 accounts were actioned, highlighting the platform's proactive approach in ensuring user safety.

Apple’s Image Playground now integrates with ChatGPT.

The Verge

The Verge · 3m ago

Apple’s Image Playground now integrates with ChatGPT.

Apple's Image Playground now integrates with ChatGPT, enabling users to transform photos with creative styles like oil paintings. The integration allows users to send descriptions or images to ChatGPT to generate these transformations. Apple assures users that nothing is shared with ChatGPT without permission, emphasizing privacy. This update is part of Apple's continual advancements, highlighted at their annual WWDC 2025 developer conference, where such innovations are regularly showcased.

Coinbase Ventures backed CoinDCX set to invest in crypto taxation firm KoinX

Inc42 · 1y ago

Coinbase Ventures backed CoinDCX set to invest in crypto taxation firm KoinX

Crypto exchange CoinDCX, backed by Coinbase Ventures, has formed a strategic partnership and made an investment in crypto taxation platform KoinX. CoinDCX plans to enhance the user experience and security of crypto trading with this collaboration. The partnership will also enable KoinX to tap into CoinDCX's community of over 1.4 crore users and increase its visibility. This development follows Apple's delisting of offshore crypto exchanges like Binance, Kucoin, and OKX from its India app store. The heavy taxation regime and compliance mandates have adversely affected the Indian crypto industry.

Apple’s Image Playground now integrates with ChatGPT.

The Verge

The Verge · 3m ago

Apple’s Image Playground now integrates with ChatGPT.

Apple has updated its Image Playground to integrate with ChatGPT, enhancing features like Genmoji. This integration allows users to transform photos, for example, into oil painting styles by sending descriptions to ChatGPT. Apple assures that user data is not shared with ChatGPT without permission, providing enhanced creative capabilities while maintaining privacy. This announcement was part of updates at the WWDC 2025 event, showcasing advancements in technology and user experience at Apple.

Crypto exchange OKX shuts ops in India citing regulatory hurdles

Entrackr

Entrackr · 1y ago

Crypto exchange OKX shuts ops in India citing regulatory hurdles

OKX, one of the largest crypto exchanges in terms of trading volume, is shutting down its services in India. Citing local regulatory hurdles, the Seychelles-headquartered exchange notified its users in the country to close their accounts and redeem funds before April 30. In an email notification to its users, OKX informed that customers will be able to withdraw only funds, while all the other services will be unavailable. The development comes months after the show cause notice was released by Financial Intelligence Unit India (FIU IND) to nine crypto exchanges including Binance, Kucoin, Huobi, Kraken, Gate.io, and Bittrex, among others. However, the notice did not mention OKX. Meanwhile, OKX is strengthening its services in other regions as it secured licenses in Singapore and Dubai, and launched trading with the local currency of Turkey. Despite a surge in Bitcoin prices over the past few weeks, cryptocurrencies exchanges are finding it hard to operate in the Indian market. While Binance is facing a partial ban in India, global exchanges like Coinbase, Koinex and Indian-origin companies like Pillow and Flint have already shut their operations down in the country. India’s top crypto unicorns including CoinDCX and CoinSwitch have also faced challenges in the past 12 months as they went through layoffs and cost-cutting measures. Notably, both companies saw a significant decline in their operating revenue in FY23.

Binance registers with FIU-IND, pays Rs 18.8 crore fine to restart operations in India

Economic Times

Economic Times · 1y ago

Binance registers with FIU-IND, pays Rs 18.8 crore fine to restart operations in India

Cryptocurrency exchange Binance has registered with India's virtual digital asset monitoring agency FIU-IND, after paying a penalty of INR 18.82 crore to lift a seven-month ban on its operations in the country. The registration marks Binance's 19th global regulatory milestone and allows the company to tailor its services for Indian users. India leads the world in grassroots crypto adoption, and Binance accounted for nearly 90% of the estimated $4 billion cryptocurrency holdings of Indian nationals prior to the ban.

Crypto giant Binance's US affiliate halts direct dollar withdrawals

Economic Times

Economic Times · 1y ago

Crypto giant Binance's US affiliate halts direct dollar withdrawals

Binance.US, the US unit of cryptocurrency exchange Binance, has temporarily halted the withdrawal of dollars from its platform. This move comes after the US Securities and Exchange Commission (SEC) asked a court to freeze Binance's assets. Binance.US stated that customers can still withdraw their US dollar funds by converting them into stablecoin or other digital assets. The SEC had previously sued Binance, alleging deceptive practices and diversion of customer funds.

Meta launches new teen safety features, removes 635,000 accounts that sexualise children - The Economic Times

Economic Times

Economic Times · 1m ago

Meta launches new teen safety features, removes 635,000 accounts that sexualise children - The Economic Times

Meta has launched new safety features to protect teenagers on its platforms and removed 635,000 accounts linked to inappropriate interactions with minors. The measures aim to enhance teen safety by allowing easier reporting and blocking of harmful accounts. Meta is also employing AI to verify users' ages and convert them into teen accounts if misrepresented. This comes as Meta faces scrutiny and lawsuits over its impact on youth mental health.

Binance gets Dubai regulator nod to onboard retail clients

VCCircle

VCCircle · 1y ago

Binance gets Dubai regulator nod to onboard retail clients

Cryptocurrency exchange Binance has obtained a Virtual Asset Service Provider (VASP) license from Dubai's regulator VARA. This license will enable Binance to expand its services beyond spot trading and fiat services to retail clients, as well as qualified and institutional users. The license also allows Binance FZE, a unit of Binance, to offer margin trading products for qualified users and staking products.

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