India’s Financial Intelligence Unit has issued notices to 15 crypto platforms, enforcing compliance with anti-money laundering laws and signalling a stricter stance on offshore and domestic cryptocurrency services operating without proper registration.
India’s Financial Intelligence Unit has moved against 15 crypto platforms, issuing non-compliance notices under the Prevention of Money Laundering Act and seeking to block public access to their apps and web addresses in India, according to a Ministry of Finance release. The named entities include Weex, Blofin, Bitunix, DigiFinex, Toobit, Rezorex, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT and Guardarian. Reuters-style reporting on the announcement indicates the agency is treating the matter as an unlawful operating issue, not merely a paperwork lapse, with the platforms said to have been active in the market without meeting the requirements attached to the law.
The enforcement step follows India’s 2023 decision to bring virtual digital asset service providers within the anti-money-laundering framework, a change that requires registration with the FIU and compliance with reporting and record-keeping duties. The Finance Ministry has said those obligations apply whether a business is based in India or abroad, which gives the regulator a basis for reaching offshore exchanges that serve Indian users. In other words, physical presence is not a shield if a platform is offering services in the country.
The ministry also used the occasion to restate that crypto products and non-fungible tokens remain unregulated in India, warning that customers may have no regulatory recourse if a trade goes wrong. That distinction matters: anti-money-laundering registration is not the same as consumer protection or product approval, and the latest notices do not amount to a broader legalisation of the sector. Instead, they underline a narrower but firm message from the government: any platform with Indian users is expected to comply with the PMLA regime or face restrictions.
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