India's FIU has issued show-cause notices to 25 offshore crypto exchanges, including BingX and LBank, for failing to comply with anti-money laundering laws, risking URL blocks. This 2025 crackdown, managing over $9 billion in assets, aims to enforce KYC and curb illicit flows. Compliance pathways exist, potentially stabilizing the market.
India’s FIU Issues Notices to 25 Offshore Crypto Exchanges for AML Non-Compliance
