India Issues Non-Compliance Notices to 15 Crypto Platforms Under AML Rules
- —FIU issued notices to 15 platforms, including Weex, Blofin, Bitunix, XT.com, Latoken, WOO X, Pionex, ChangeNow, FixedFloat and WhiteBIT
- —The agency seeks removal of the platforms' apps and URLs from public access
- —FIU said the platforms operated in India without registration, violating PMLA provisions
- —The FIU registration requirement has applied to offshore platforms with Indian users since March 2023
Why it matters: India is signaling that FIU registration is mandatory for any exchange serving Indian users, regardless of where it is incorporated.
Source: HackerNoon (crypto tag)