India's Financial Intelligence Unit issues AML non-compliance notices to 15 offshore crypto exchanges for serving Indian customers without registration.
Regulation & Gov ·
India's Financial Intelligence Unit issued non-compliance notices to 15 crypto platforms and moved to have their applications and web addresses removed for failing anti-money laundering obligations. The action targeted offshore crypto exchanges that have been operating without registration while serving Indian customers, according to regulatory filings.
The FIU's step reflects escalating enforcement against unregistered crypto services in India, where platforms operating across borders have continued to accept traffic from the country despite tightening compliance rules. The notices signal the regulator's intent to restrict access to these services through app store and domain-level removals rather than relying solely on platform cooperation.
The scope of enforcement remains unclear—specifically whether platforms have contested the notices, what timeline has been set for compliance, and whether additional regulatory action is planned beyond the takedown requests.