India’s FIU Flags 15 Crypto Platforms for AML Non‑Compliance

The Financial Intelligence Unit‑India (FIU‑IND) has formally notified fifteen virtual digital asset service providers that they are not complying with the country’s anti‑money‑laundering (AML) requirements.

Regulatory action

FIU‑IND issued non‑compliance notices, labeling the entities as virtual digital asset service providers and citing specific AML lapses. The notices serve as a regulatory warning and may lead to further enforcement steps if the platforms do not address the identified gaps.

Implications for the sector

The action underscores the Indian regulator’s focus on tightening compliance standards for crypto‑related businesses. Providers are expected to enhance their AML frameworks to meet the regulatory expectations.