FIU-IND issues PMLA notices to 15 crypto platforms and seeks takedown of their apps and URLs
The notices under section 13 of the PMLA are for operating without registering as reporting entities. The registration duty is activity-based and does not depend on physical presence in India.
In 30 seconds
- Notices under section 13 of the Prevention of Money Laundering Act, 2002 to 15 Virtual Digital Asset Service Providers.
- Takedown notices also issued for the apps/URLs under section 79(3)(b) of the IT Act, 2000.
- VDA service providers serving India must register with FIU-IND as a Reporting Entity, onshore or offshore.
- The Ministry repeats that crypto products and NFTs are unregulated and can be highly risky.
हिंदी में सार
FIU-IND ने PMLA की धारा 13 के तहत 15 क्रिप्टो प्लेटफ़ॉर्म को नोटिस भेजे हैं और उनके ऐप/URL हटाने को कहा है, क्योंकि वे भारत में Reporting Entity के रूप में रजिस्टर हुए बिना काम कर रहे थे।
The platforms named
Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT and Guardarian.
What the action is
- The Director, FIU-IND has issued notices for non-compliance under section 13 of the PMLA.
- As nodal officer under section 79(3)(b) of the Information Technology Act, 2000, the Director has also issued notices to take down the applications/URLs found operating without complying with the PMLA.
The rule behind it
VDA service providers were brought under the anti-money-laundering framework of the PMLA in March 2023. Those operating in India — whether offshore or onshore — and engaged in exchange between virtual digital assets and fiat currencies, transfer of VDAs, or their safekeeping or administration, must register with FIU-IND as a Reporting Entity and meet the reporting and record-keeping obligations. The obligations are activity-based and not contingent on physical presence in India.
For users
The release cautions that crypto products and NFTs are unregulated and can be highly risky, and that there may be no regulatory recourse for any loss from such transactions.
Published 9 September 2026. Updated 2 October 2026. This report is for general information and is not professional advice. Read the source document before acting on it.