4 offshore crypto exchanges join queue for nod to restart India ops

The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter.

In the beginning of 2024, India had banned nine crypto exchanges —Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix — for non-compliance with anti-laundering law in the country.