India's FIU Issues Notices to 15 Crypto Platforms Over PMLA Violations
· Business · Zee News, Gadgets360
India's Financial Intelligence Unit has issued compliance notices to 15 cryptocurrency platforms for failing to meet statutory obligations under the Prevention of Money Laundering Act. The Director of FIU-India spearheaded the compliance action against entities found operating without adhering to mandatory regulatory requirements. The Ministry of Finance disclosed the development as part of a wider crackdown on virtual digital asset service providers operating within the country. The exact names of the 15 crypto platforms have not been publicly released by authorities.
Why it matters
The action signals tighter regulatory oversight over virtual digital asset platforms operating in India, compelling crypto exchanges to strictly enforce anti-money laundering norms or face operational shutdowns.
Read the original report — Zee News
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