India's FIU-IND issues non-compliance notices to 15 offshore crypto platforms

The Financial Intelligence Unit of India (FIU-IND) has issued notices to 15 offshore crypto platforms, including Weex, Blofin, and Bitunix, for operating without registration under the Prevention of Money Laundering Act. Since March 2023, all platforms serving Indian users must comply with AML regulations, including KYC and suspicious transaction reporting. The agency warned that crypto products remain unregulated and carry high risks.