India Cracks Down on 25 Crypto Exchanges Including BingX, LBank, CoinW over Compliance Failures
12 Articles
12 Articles
25 offshore crypto exchanges face govt action, including Huione, CEX.IO, BingX
India's financial intelligence unit initiated a significant crackdown, issuing notices to 25 offshore cryptocurrency platforms, including major players like Huobi and Paxful. These firms operated illegally without PMLA registration, mandated since March 2023. FIU-IND ordered blocking their Indian access, emphasizing an ongoing push to formalize crypto.

India Targets 25 Offshore Crypto Firms With AML Violations in FIU Crackdown
India is accelerating crypto sector oversight with compliance notices to 25 offshore platforms, reinforcing investor protections while expanding formal registration and anti-money laundering safeguards nationwide. India Issues Compliance Notices to 25 Offshore Crypto Platforms India is intensifying its oversight of the digital asset sector as the Financial Intelligence Unit India (FIU IND) clamps down on... The post India Targets 25 Offshore Cry…
India shuts down 25 illegal crypto exchanges over money laundering and financial terrorism breach
India’s financial watchdog, the Financial Intelligence Unit-India (FIU-IND), has issued non-compliance notices to 25 offshore cryptocurrency exchanges that failed to register and adhere to the country’s stringent Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) obligations. The law, which is under the Prevention of Money Laundering Act (PMLA), has prompted the regulator to order an immediate withdrawal of the exchanges’ websi…
India’s FIU Issues Notices to 25 Offshore Crypto Exchanges for AML Non-Compliance
In a sweeping move that underscores India’s intensifying scrutiny of the cryptocurrency sector, the Financial Intelligence Unit (FIU) has targeted 25 offshore crypto exchanges for alleged non-compliance with the country’s anti-money laundering regulations. Platforms such as BingX, LBank, and CoinW are among those facing show-cause notices, with the government signaling potential blocks on their URLs if they fail to register under the Prevention …
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