India Cracks Down on 15 Crypto Platforms for AML Non-Compliance

India's Financial Intelligence Unit (FIU) has issued non-compliance notices to 15 cryptocurrency platforms under the Prevention of Money Laundering Act. The notice seeks the takedown of their applications and URLs from public access, citing that they operate illegally in India without complying with relevant PMLA provisions.

The affected platforms include Weex, Blofin, Bitunix, DigiFinex, Toobit, Rezorex, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, and Guardarian. The enforcement push follows the March 2023 expansion of India's anti-money laundering and counter-financing of terrorism framework.

Crypto platforms have previously restricted or resumed services in India due to regulatory requirements. Bybit temporarily restricted services on January 12, 2025, while completing its FIU registration and later restored full app access.