India Targets 15 Crypto Platforms in Latest FIU Compliance Push
India's Financial Intelligence Unit issued non-compliance noticeson Wednesday to 15 crypto platforms under the Prevention of Money Laundering Act. The list includes Weex, Blofin, Bitunix, DigiFinex, Toobit, Rezorex, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, and Guardarian.
The agency's takedown notices, published through India's Press Information Bureau, seek removal of the platforms' applications and URLs from public access and state that the entities were operating illegally in India without complying with relevant provisions of the Act. That is the operative legal claim behind the action: not merely a compliance gap, but a finding that the platforms lacked lawful authorization to operate in the Indian market at all.
The legal basis for reaching offshore platforms in the first place traces back to March 2023, when India expanded its anti-money laundering and counter-financing of terrorism framework to bring virtual digital asset service providers within the scope...
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