Non-compliance notices issued to 15 Virtual Digital Asset service providers under PMLA
The agency said the 15 platforms must register under anti-money-laundering rules and face no public access in India until they comply.
- On Tuesday, the Financial Intelligence Unit-India issued non-compliance notices to 15 Virtual Digital Assets Service Providers under Section 13 of the Prevention of Money Laundering Act .
- Registration with the FIU-IND is mandatory for all platforms serving Indian users, whether offshore or onshore, under the PMLA framework requiring strict reporting and record-keeping obligations.
- The Director of the Financial Intelligence Unit-India ordered takedown of applications and URLs for platforms including Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT, and Guardarian.
- Unlike previous enforcement actions against Binance, which faced fines of ₹188.2 million, the FIU-IND did not announce financial penalties against these 15 companies, focusing instead on immediate app and URL takedowns.
- Indian authorities continue tightening crypto oversight, subjecting gains to a 30% tax and a 1% tax deducted at source, while cautioning the public that digital assets remain unregulated and carry significant financial risks.
26 Articles
26 Articles
India’s financial intelligence unit flags 15 crypto platforms for AML lapses
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Cryptocurrency News | Cryptocurrency Prices | Market CapIndia targets Weex, Blofin, WOO X and 12 other crypto platforms
India’s Financial Intelligence Unit has issued non-compliance notices to 15 crypto service providers and ordered action to take down their apps and URLs in India for operating without meeting the country’s anti-money laundering requirements. The Financial Intelligence Unit-India said Tuesday…
Crypto Crackdown: FIU Issues Notices to 15 Crypto Platforms, Seeks Blocking of Websites and Apps | 📲 LatestLY
India’s Financial Intelligence Unit (FIU-IND) has issued non-compliance notices to 15 Virtual Digital Asset Service Providers (VDA SPs) for failing to adhere to the country’s anti-money laundering regulations. 📲 Crypto Crackdown: FIU Issues Notices to 15 Crypto Platforms, Seeks Blocking of Websites and Apps.
FIU-IND issues notices to 15 virtual digital asset service providers for PMLA non-compliance - The Tribune
The Financial Intelligence Unit-India (FIU-IND) has issued notices to 15 Virtual Digital Assets Service Providers (VDA SPs) for non-compliance with provisions of the Prevention of Money Laundering Act (PMLA), 2002, the Ministry of Finance said on Wednesday.
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