India's Financial Intelligence Unit (FIU-IND) has issued non-compliance notices to 15 crypto platforms over anti-money laundering (AML) loopholes.
India's Financial Intelligence Unit (FIU-IND) on Tuesday issued non-compliance notices to 15 virtual digital asset service providers, including Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT, and Guardarian, under Section 13 of the Prevention of Money Laundering Act (PMLA). India brought crypto platforms under anti-money laundering rules in March 2023, requiring all platforms serving Indian customers to register and comply with regulations such as user verification, record-keeping, and suspicious activity reporting. The FIU also warned Indian citizens that crypto products and NFTs are unregulated and high-risk.
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