Terrorism facilitation among cryptocurrency exchanges has become a sensitive topic in the crypto scene after Binance and former CEO Changpeng Zhao (CZ) capitulated to the US Department of Justice (DoJ).
FIU-IND is the national agency responsible for receiving, processing, analysing and disseminating information relating to suspect financial transactions to enforcement agencies and foreign FIUs. The agency is under the Finance Ministry.
India's Financial Intelligence Unit has issued show-cause notices to nine offshore virtual digital asset service providers, including Binance, for operating in the country without complying with the money laundering laws, the Finance Ministry .
As part of compliance action against the offshore entities, Financial Intelligence Unit India (FIU IND) has issued show cause notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs).
Nine crypto exchanges Binance, Kucoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC, and Bitfinex have been issued a warning from Indian authorities for…