India Targets 25 Offshore Crypto Exchanges Over AML Lapses

 India Targets 25 Offshore Crypto Exchanges Over AML Lapses

Indian authorities have initiated enforcement action against 25 offshore virtual-asset service providers (VASP), including notable names like Huione, CEX.IO, and BingX, for failing to comply with India’s anti-money-laundering regulations.
The crackdown is part of a broader effort by India’s financial intelligence and enforcement bodies to tighten controls over cross-border crypto flows and prevent illicit finance.
Some firms are perceived to be servicing Indian clients without adequate regulatory registration or oversight. This step is viewed as both deterrent and signal: authorities intend to make sure offshore operations cannot escape scrutiny or regulatory norms.
The impact may include stricter KYC/AML requirements, potential blocking or restriction of unregistered platforms from operating in India, and increased pressure on exchanges to establish local compliance or partnerships.