Binance, 8 others get notice from government; URLs to be blocked: All the names

Gadgets Now Bureau29 Dec, 2023, 05:13AM IST

Financial Intelligence Unit-India, under the Indian finance ministry, has sent compliance show-cause notices to nine offshore Virtual Digital Assets service providers, and told the information technology ministry to block their URLs. These companies have been given notice for operating illegally in the country without complying with the local money laundering laws. In a statement issued, the finance ministry said that offshore and onshore Virtual Digital Asset service providers operating in India and involved in activities including exchange between virtual digital assets and fiat currencies, transfer and administration of virtual digital assets or instruments enabling control over them must register with Financial Intelligence Unit-India and comply with the provisions of the Prevention of Money Laundering Act (PMLA), 2002.#BTC #etf #ETH #Launchpool #BONK