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India’s Crypto Regulation Tightens as FIU Blocks 25 Offshore Exchanges
India strengthens crypto regulations by blocking unregistered offshore platforms, signaling stricter enforcement.
India’s Financial Intelligence Unit (FIU) has blocked access to 25 offshore crypto exchanges, including BitMEX, Poloniex, and Paxful, for failing to register under the Prevention of Money Laundering Act (PMLA). Only five platforms—among them Binance and Coinbase—remain operational after securing compliance approvals. The move signals a decisive step in India’s effort to formalize crypto regulation, strengthen anti-money-laundering oversight, and ensure investor protection amid growing digital asset adoption.