KEY POINTS
- Nine major crypto exchanges face possible ban of their respective websites in India
- The affected crypto businesses include Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex
- This development comes after the inclusion of Virtual Assets Service Providers under the AML-CFT framework in March
India's Financial Intelligence Unit (FIU), the agency responsible for monitoring and regulating financial activities in the country, issued compliance notices to nine major centralized crypto exchange platforms, and asked the Ministry of Electronics and Information Technology to block their websites for illegally operating in the nation.
