Summary of this article
FIU-IND issued PMLA non-compliance notices to 15 crypto platforms.
Takedown notices were issued for their applications and URLs in India.
VDA providers must register with FIU-IND and follow anti-money laundering requirements.
The Financial Intelligence Unit-India (FIU-IND) has taken compliance action against 15 virtual digital asset (VDA) service providers for failing to meet requirements under India’s anti-money laundering framework. According to the Ministry of Finance, FIU-IND issued notices on September 9, 2026 to the 15 VDA service providers for non-compliance within the provisions of the Prevention of Money Laundering Act, (PMLA), 2002. It has also issued notices seeking the removal of applications and URLs linked to these entities from public access.
Notably, crypto exchanges and other VDA service providers operating in India, including those based overseas are required to comply with India’s anti-money laundering rules when carrying out specific activities for users in India.
What Action Has FIU-IND Taken?
The director of FIU-IND has issued notices to the 15 VDA service providers under Section 13 of PMLA, 2002. FIU-IND has also issued separate notices for the takedown of applications and URLs associated with these entities. The move seeks to restrict public access to services which have been found to be operating without complying with the relevant PMLA provisions in India.
The action covers platforms involved in activities, such as exchanging, transferring, and providing other services related to VDAs.
Which 15 Crypto Platforms Are Involved
The 15 platforms named by FIU-IND include Weex, operated by Weex International Exchangel; Blofin, operated by BLF Global; Rezorex, operated by RezorEx; Bitunix, which is operated by Bitunix LLC; DigiFinex, operated by DigiFinex; Toobit, operated by Hopeful Technology; and XT.com, operated by Fibtc Ltd/XT Technical.
The list also includes Latoken, operated by LAtrade; WOO X, operated by Wootech; Pionex, operated by Marketa Trading; ChangeNow, operated by CHN Group; SimpleSwap, operated by SimpleSwap; Fixedfloat, operated by FFGX Group; WhiteBIT, operated by UAB Clear White Technologies; and Guardarian, operated by FinSeven CZ.
Why Has FIU-IND Taken Action?
VDA providers were brought under India’s anti-money laundering framework in March 2023. VDA service providers, including offshore entities, are required to register with FIU-IND as reporting entities if they undertake specified activities, such as crypto-fiat exchange, transfers, and custody services.
The latest notices were issued against entities found to be operating without complying with the PMLA requirements, including reporting and record-keeping obligations. The Ministry of Finance has also cautioned that crypto products and non-fungible tokens (NFTs) remain unregulated and can be highly risky with no regulatory recourse for losses from such transactions.
