LIVEApple removed apps from the App Store in India belonging to the 10 largest crypto exchanges. 📲 These include OKX, Binance, KuCoin, HTX (formerly Huobi), Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
Most of these platforms, excluding OKX, received notices of non-compliance from Indian regulators late last year. In December, the Financial Intelligence Unit (FIU), under the Indian Ministry of Finance, issued notices to adhere to the Prevention of Money Laundering Act (PMLA).
The government initiated the blocking of websites associated with these organizations, alleging illegal activities and non-compliance with the law. 🚫 However, this process is ongoing, allowing exchange pages to remain active in India. The applications for these platforms are also still available on Google PlayStore.
In 2023, the Indian government implemented anti-money laundering regulations for the cryptocurrency sector, intensifying supervision over digital assets. According to regulators, all listed platforms operate illegally in the country, disregarding the nation's anti-money laundering laws. ⚖️
