India’s simmering tension with cryptocurrencies reached a boiling point as nine offshore exchanges, including Binance and KuCoin, received stern compliance notices on December 27th, 2023. The stark message: register with Indian authorities and comply with anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations, or face immediate website blocking and potential legal action. This aggressive move signals a major escalation in India’s ongoing regulatory battle with the digital asset industry.
Worldcoin, the ambitious project aiming to create a universal digital identity system, is expanding its World ID verification reach with Singapore’s addition. However, it’s also scaling back its Orb hardware device service in India, Brazil, and France.