Binance is going to re-enter the Indian market. Binance was kicked out of India in January along with several other exchanges due to noncompliance. At that time it had 90% of the Indian market.
On Thursday April 18th, as Moon transited in Magha Nakshatra in Sun’s sign of Leo, while trining Sun Who is currently exalted in Aries, Economic Times reported that Binance has paid a $2 Million fine to India and is now going to return registered with India’s Financial Intelligence Unit, and complying with all the laws that they had apparently not been complying with previously.
Surya Dev the Sun is administration at the national level or at the highest level in the case of the private sector.
Magha where Moon transited on Thursday when Binance’s upcoming re-entry into India was reported, is the first Nakshatra or constellation of Leo and it is known to facilitate beneficial relationships with higher authorities.
Sun is currently exalted and really strong in Aries which means that Indian authorities must be in an especially grounded and confident position. Because of the timing it looks like this move could be really beneficial to Binance and they will likely make a lot of money operating in India again.
As per the Economic Times article, Binance’s advanced technology and liquidity means that it will likely shake up the playing field again amongst exchanges operating there. If they have a new compliant approach and relationship with the administration they’re likely to get a lot of benefit out of re-entering. Again this is due to Sun’s current exaltation in Aries in trine to the Nakshatra of Magha.