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India Cracks Down on 15 Crypto Platforms Over AML Compliance

Guavy AI Editorial Team
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WOO
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The Indian government has taken action against 15 virtual digital asset service providers for allegedly failing to meet anti-money laundering requirements. The Financial Intelligence Unit-India (FIU-IND) issued non-compliance notices to the platforms under Section 13 of the Prevention of Money Laundering Act.

The affected platforms include Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, and Guardarian.

As a result of the notices, the government is seeking to remove the companies' applications and web URLs from public access. This could limit Indian users' ability to access these platforms.

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