15 crypto exchanges face government ban for PMLA violations
The government has sent notices to 15 cryptocurrency platforms for reportedly breaking anti-money laundering regulations, ordering officials to restrict access to their websites and mobile applications. According to the Financial Intelligence Unit-India (FIU-IND), these platforms were functioning unlawfully by failing to adhere to the Prevention of Money Laundering Act, 2002. The list of affected companies features names such as Weex, Blofin, and Rezorex, along with several others.