The action has been taken for alleged non-compliance with Indian anti-money laundering law. As per the notice sent out by FIU, these 9 crypto exchanges, which includes Binance and Kucoin, have been operating illegally in India.
Will India block kucoin & KOIN URLs?
India’s Financial Intelligence Unit is requesting to block the URLs of Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex.
Is Binance and kucoin complying with anti-money laundering law?
(File) The Financial Intelligence Unit (FIU) under the Finance Ministry has issued show cause notices to nine offshore cryptocurrency and virtual digital assets platforms, like Binance and Kucoin, for non-compliance with anti-money laundering law.
