Golden Finance reported that following the earlier lifting of the ban on Binance and Kucoin, the Indian Financial Intelligence Unit (FIU-India) is reviewing applications from four offshore cryptocurrency exchanges to resume operations by March 2025. A source familiar with the review process told the local news agency: "We have received applications from four more offshore cryptocurrency exchanges to operate in India, and we believe that at least two of them will be allowed to resume operations before the end of fiscal year 25." "This will be after a thorough review of transaction visibility, suspicious transaction reports (STRs) and other related issues," the source added. The official further explained that the Indian Financial Intelligence Unit will focus on ensuring compliance with anti-money laundering regulations before issuing a license, and stressed that "We will only allow any cryptocurrency exchange to operate in India after completing due diligence. We are very strict about compliance requirements."