FIU Issues Notices To 15 Crypto Platforms, Initiates Takedown

The Financial Intelligence Unit-India (FIU-IND) has issued notices to 15 offshore virtual digital asset (VDA) service providers for non-compliance with provisions of the Prevention of Money Laundering Act (PMLA), 2002. The notices were issued under Section 13 of the PMLA as part of the government’s compliance action against offshore crypto platforms serving Indian users without registering with FIU-IND. The platforms named by the financial intelligence agency are Weex, Blofin, Rezorex, Bitunix,