India's Financial Intelligence Unit (FIU) is seeking to block the websites of nine global crypto exchanges, including Binance, Kucoin, Huobi, Kraken, and Bitfinex.
This comes after the FIU issued compliance notices to these Virtual Digital Assets Service Providers, accusing them of operating illegally and violating Anti-Money Laundering (AML) regulations.
The move is an attempt to prevent the foreign exchanges from being accessed within India.
Despite 31 VDA service providers having registered with the FIU, the organization reports that several offshore entities that service a large number of Indian users have failed to register and remain outside of India's AML and Counter Financing of Terrorism framework.