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India Warns Nine Crypto Exchanges to Block Access or Face Action

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.

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