India To Block Crypto Exchange Binance, Kraken Websites

Financial Intelligence Unit, an Indian government agency which scrutinizes financial transactions, said Thursday nine global crypto exchanges -- including Binance, Kraken, Kucoin and Mexc -- are operating "illegally" in the country without complying with the local anti-money laundering act and asked the IT Ministry to block their websites. From a report: FIU said it has issued show cause notices to all nine firms. Global crypto exchanges are required to comply with India's anti-money laundering rules and cannot evade the guidelines just because they don't have physical presence in the country, the government agency said.

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