India's Financial Intelligence Unit (FIU-IND), the agency enforcing anti-money laundering reporting rules for crypto services, has issued non-compliance notices to 15 providers and separately sought the takedown of their apps and URLs from public access in India.
The Sept. 9 announcement states that the services were operating without meeting relevant requirements under the Prevention of Money Laundering Act (PMLA). FIU-IND named both the consumer-facing brands and their associated entities in the notices.
The practical risk facing users is loss of public app and website access in India. However, the release does not say that every listed service is already blocked, nor does it state that customer accounts, balances or withdrawals have been frozen.
Among the entities named, the first six identified are Weex, paired with its associated entity, according to the source material.
For more details, see the original report.
