India cracks down on 25 crypto exchanges including BingX, LBank, CoinW over compliance failures
Offshore crypto platforms with billions of dollars in assets are in the Indian government’s crosshairs, as the government’s financial watchdog moves against 25 exchanges for failing to register and comply with anti-money laundering obligations. The Financial Intelligence Unit India (FIU-IND) issued notices to 25 crypto exchanges — including BingX, LBank, CoinW, ProBit Global, BTCC, AscendEX, Zoomex, and Poloniex — for failing to comply with the country’s anti-money laundering rules, the Indian finance ministry said on Wednesday. The regulator also ordered the platforms to withdraw their apps and websites from public access in India. However, most remained accessible as of press time. Of the 25 exchanges, 14 together hold more than $9 billion in assets and recorded…
