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India's Financial Intelligence Unit Issues Compliance Notices to 9 Offshore Crypto Exchanges

Katie Lin

Summary: The Financial Intelligence Unit India (FIU-IND) has issued compliance notices to nine offshore crypto exchanges for not adhering to the Prevention of Money Laundering Act (PMLA) regulations. Additionally, the FIU-IND has requested the Ministry of Electronics and Information Technology to block their websites. These crypto exchanges, which include Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, ...

The Financial Intelligence Unit India (FIU-IND) has issued compliance notices to nine offshore crypto exchanges for not adhering to the Prevention of Money Laundering Act (PMLA) regulations. Additionally, the FIU-IND has requested the Ministry of Electronics and Information Technology to block their websites. These crypto exchanges, which include Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex, are mandated to register in India and abide by the PMLA 2002 rules, irrespective of their physical presence in the country.

Author: Katie Lin

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