India Cracks Down on 25 Crypto Exchanges Including BingX, LBank, CoinW over Compliance Failures

India cracks down on 25 crypto exchanges including BingX, LBank, CoinW over compliance failures

Of the 25 offshore crypto exchanges targeted by India, 14 hold more than $9 billion in assets.

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…

Why is crypto ripping again

Indian traders might be forced to switch platforms

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 …

Indian Regulators Demand PMLA Registration From 25 Offshore Exchanges

FIU-IND orders 25 offshore exchanges to register under PMLA or lose India access CoinEx, BingX, PrimeXBT among those flagged for AML non-compliance Crackdown reflects India’s sustained push to regulate digital asset platforms India’s Financial Intelligence Unit (FIU-IND) has issued notices to 25 offshore cryptocurrency exchanges for failing to comply with anti-money laundering (AML) rules, warning that access will be blocked unless they register…