Government Targets 25 Crypto Firms for Breaking Anti-Money Laundering Rules

TLDR: FIU-IND has issued notices to 25 offshore crypto firms under PMLA for AML rule breaches. Firms like CoinW, CEX.IO, and Paxful face potential fines up to Rs 1 lakh per violation. Separate orders under IT Act 2000 seek removal of unregistered crypto apps and websites in India. Regulators warned that all crypto firms must [...]

The post Government Targets 25 Crypto Firms for Breaking Anti-Money Laundering Rules appeared first on Blockonomi.