On Wednesday, India’s Financial Intelligence Unit sent non-compliance warnings to 15 digital asset exchanges under the Prevention of Money Laundering Act, featuring names such as Weex, Blofin, Bitunix, DigiFinex, and Toobit.
The regulatory body furthermore issued notices requesting the removal of these platforms’ web addresses and software applications from public availability, stating that these organizations functioned unlawfully within the country by ignoring necessary PMLA mandates.
Additional exchanges cited on the roster include Rezorex, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, and Guardarian.
This regulatory action comes after the extension of India’s anti-money laundering and counter-terrorist financing rules in March 2023, which subjected virtual digital asset service providers functioning domestically—regardless of whether they are based locally or internationally—to FIU registration mandates and further PMLA duties.
The Ministry of Finance noted that these duties encompass reporting and data retention mandates, and they apply regardless of whether a company maintains a physical storefront inside India. Digital asset exchanges have previously adjusted their operations or brought back features in the region to align with national regulatory guidelines.
Bybit briefly limited its offerings in the nation on January 12, 2025, while finalizing its FIU enrollment before bringing back total software functionality. Coinbase likewise opened up user registration again following its FIU compliance, whereas Binance re-entered the regional marketplace in 2024 after settling a fine of $2.25 million.
Concurrently, the FIU emphasized that cryptocurrency items and non-fungible tokens continue to lack official oversight in India, cautioning that trading activities might lack official protection or recovery avenues for financial damages.
Originally published at https://www.theblock.co/news/regulation/2026-09-09-india-seeks-takedowns-of-15-crypto-platforms-over-aml-compliance-413975.
