The Indian government plans to block Binance, Kucoin, Huobi, Kraken, Gate.io, and Bittrex, along with other virtual digital asset service providers, for failing to register under the Prevention of Money Laundering Act. These entities were required to register with the Financial Intelligence Unit and comply with compliance requirements. The FIU has issued compliance show cause notices and requested the blocking of URLs of these offshore entities operating illegally. The government has been tightening regulations on crypto assets, including imposing taxes and tracking investors and exchanges.
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