India’s Financial Intelligence Unit has issued non-compliance notices to 15 offshore virtual digital asset service providers and sought the takedown of their apps and websites for allegedly operating in the country without meeting requirements under the Prevention of Money Laundering Act.
The platforms include Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT and Guardarian, the Ministry of Finance said on Wednesday.
FIU-IND issued the notices under Section 13 of the PMLA and has also sought action to remove the platforms’ applications and URLs from public access in India.
Offshore platforms also need FIU registration
Virtual digital asset service providers were brought under the PMLA framework in March 2023.
