The FIU-IND recently issued show-cause notices to nine offshore crypto exchanges, including Binance and Kraken, for failing to comply with the Prevention of Money Laundering Act (PMLA). India has now reportedly suspended access to these offshore cryptocurrency exchanges.
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In a move towards bolstering its commitment to anti-money laundering (AML) measures, BuyUcoin, India’s second-oldest digital asset exchange, has announced its registration as a Financial Intelligence…
Shivam Thakral emphasized that achieving a balance between safeguarding investor protection and facilitating market access is of paramount importance. For this, he advocated close collaboration between regulators and industry participants, fostering a dynamic approach in continuously updating regulatory frameworks to keep pace with the ever-evolving crypto market.