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.
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