Finance ministry issues notice to 9 offshore crypto platforms

The FIU under the Finance Ministry has issued show cause notices to nine offshore cryptocurrency platforms for non-compliance with anti-money laundering law. The FIU has also written to the Meity to block the URLs of these entities operating illegally. In March, the government brought virtual digital assets service providers into the ambit of the Anti Money Laundering/Counter Financing of Terrorism framework. The nine entities issued notices are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfenex.

from Times of India https://ift.tt/J6OhlBi
https://ift.tt/QOA1RdY The FIU under the Finance Ministry has issued show cause notices to nine offshore cryptocurrency platforms for non-compliance with anti-money laundering law. The FIU has also written to the Meity to block the URLs of these entities operating illegally. In March, the government brought virtual digital assets service providers into the ambit of the Anti Money Laundering/Counter Financing of Terrorism framework. The nine entities issued notices are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfenex.

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