India Targets 15 Crypto Exchanges for AML Compliance Failures

India's Financial Intelligence Unit (FIU) has sent notices to 15 cryptocurrency exchanges for failing to comply with Anti-Money Laundering (AML) regulations. The affected platforms include WOO X and XT.com, among others.

The FIU has stated that these companies have been serving local users without adhering to the country's AML laws. The list of targeted entities also includes Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, Latoken, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, and Guardarian.

The FIU has requested action to restrict public access to these companies' applications and web addresses under the Prevention of Money Laundering Act (PMLA). This move does not constitute a global shutdown but impacts their access to the Indian market and increases pressure on operators to register with the local authorities.