India to block crypto exchange websites in widening crackdown
时间:2024-06-26 06:41:14 阅读(143)
India clamped down on overseas crypto exchanges like Binance that it says are operating illegally there, moving to block local access to their websites. The Financial Intelligence Unit issued so-called compliance show-cause notices to several platforms including Binance, Kraken, KuCoin and Huobi. It also asked the information ministry to block the URLs of the nine entities, according to a statement late Thursday.
“Several offshore entities catering to a substantial part of Indian users were not getting registered and coming under the Anti Money Laundering (AML) and Counter Financing of Terrorism (CFT) framework,” the FIU said in the statement. India’s government this year imposed money-laundering provisions on the crypto sector as it tightens oversight of digital assets along with other countries. In 2022, authorities delivered a major blow to local crypto exchanges by introducing a tax on transactions that caused trading volumes to plummet.
Bloomberg News reported in 2021 that India’s anti-money laundering agency was examining if Binance had a role to play in an investigation involving betting apps. A Binance spokesperson didn’t immediately respond to a request for comment. Binance, the largest crypto exchange, has come under increased pressure from regulators around the world in the past year. In November, the company agreed to pay $4.3 billion as it pleaded guilty to anti-money laundering and US sanction violations. As part of the agreement with US authorities, co-founder and CEO Changpeng Zhao agreed to step down.
Follow us onTwitter,Facebook,LinkedIn
上一篇:Cap open-ended rice procurement for promotion of crop diversification- CACP
下一篇:Zomato share price rallies 18%, mcap tops Rs 50,000-cr; Here’s what’s fueling the rally
猜你喜欢
- Use dips in Nifty to build quality portfolio, Bank Nifty to trade in 38400-40500; SBI, Tata Motors, may rally
- Tax incentives unlikely for sovereign green bonds
- Strong performance in US market to support growth of Indian pharma industry in FY24- ICRA
- Tata Motors ‘A’ shares delisting offers 23% bonanza to DVR holders; here’s how investors can maximise gains
- Buy RIL, ITC stocks ahead of Union Budget 2021, charts tell; watch these key support levels for Nifty
- Buy Maruti, ICICI Bank, SBI stocks to pocket up to 25% gain; Nifty Mar’23 target intact at 18400
- Buybacks via exchange route to be phased out
- CAA rules ready, set to be notified before declaration of Lok Sabha elections
- Caution stock market investors! Avoid panic selling or buying of stocks amid high volatility