India Cracks Down On 25 Crypto Exchanges Including BingX
India cracks down on 25 crypto exchanges including BingX, LBank, CoinW over compliance failures in AML rules.
Matilda
India Cracks Down On 25 Crypto Exchanges Including BingX
India Cracks Down On 25 Crypto Exchanges Including BingX, LBank, CoinW Over Compliance Failures India has taken a bold step in regulating the crypto market. India cracks down on 25 crypto exchanges including BingX, LBank, CoinW over compliance failures , targeting platforms accused of skirting anti-money laundering (AML) obligations. Image : Google The Financial Intelligence Unit India (FIU-IND) announced the enforcement on Wednesday, putting offshore crypto companies with billions in assets under serious pressure. The watchdog said the affected platforms failed to register or comply with India’s financial rules, forcing them to pull their apps and websites from public access. Despite the order, many apps were still accessible as of press time. Billions At Stake As Exchanges Face Scrutiny Of the 25 flagged platforms, 14 together hold over $9 billion in assets and generated about $20 billion in trading volume in the past 24 hours , according to CoinMarketCap. This highlights the massive influ…