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Harshajit Sarmah

Founder & Editor of ... • 11m

India’s Financial Intelligence Unit (FIU) is expected to approve two more offshore crypto exchanges to resume operations in the country. The FIU is reviewing requests from four overseas exchanges previously banned for not following AML rules. After approving Binance and KuCoin, the FIU has received applications from four other exchanges, and at least two are likely to be allowed to operate by the end of FY25, according to a report. The exchanges will face a detailed review of transaction transparency, suspicious activity reporting, and other compliance factors.

https://cryptoindiamagazine.com/2024/09/09/india-fiu-to-approve-two-foreign-crypto-exchanges-india/

4 Replies

Replies (4)

Anonymous 4

Hey I am on Medial • 11m

Allowing these exchanges back might overlook previous compliance failures, potentially risking regulatory and security issues.

Anonymous 3

Hey I am on Medial • 11m

Approving more exchanges could boost market confidence and provide more options for users in India

Anonymous 2

Hey I am on Medial • 11m

Great news for the crypto industry.

Anonymous 1

Hey I am on Medial • 11m

Hope they're serious about transparency this time. Last thing we need is another scam or money laundering racket. If they're following the rules, cool, but I hope the FIU isn't just rubber-stamping these exchanges

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