India is imposing restrictions on leading crypto exchanges that regulators believe are operating in the country illegally.
The Financial Intelligence Unit (FIU) has sent several exchanges so-called non-compliance notices.
The affected platforms included Binance, Kucoin, HTX (formerly Huobi), Kraken, Bittrex, Bitstamp, MEXC Global and Bitfinex.
All of the entities are operating in the country illegally, as they have not complied with the country’s anti-money laundering regulations, according to the regulator.
In 2023, the Indian government implemented stricter rules against money laundering in the crypto industry, strengthening controls over digital assets.