Google Joins India's Crypto Crackdown, Removing Binance and Kraken Apps Over Regulatory Concerns
• Google pulled crypto apps like Binance and Kraken from its India app store due to regulatory concerns over crypto operating illegally in the country.
• This comes after India's Financial Intelligence Unit issued show cause notices to 9 crypto firms for not complying with anti-money laundering rules.
• Apple and Indian ISPs had already blocked access to many global crypto exchange apps and websites over the past week.
• The moves are India's latest crackdown on crypto, including new taxes on trades and seeking to block access to global platforms not yet complying with local KYC norms.
• India has historically taken a restrictive stance on crypto, with the central bank advocating for banning it and comparing it to a Ponzi scheme.