The post Crypto Crackdown: India Tightens Grip on Offshore Exchanges appeared first on Coinpedia Fintech News
India’s crypto scene is witnessing a significant makeover, thanks to recent directives from the Indian parliament. Get ready as the country tightens its control on foreign crypto exchanges, now required to adhere to strict anti-money laundering and counter-terrorism financing regulations.
A total of 28 Offshore Virtual Digital Asset (VDA) service providers are now on a registration journey similar to their foreign counterparts. Not following these rules could lead to serious consequences for offshore exchanges.
Hang on, because India’s crypto regulations just got a major upgrade! Here’s the complete story.
Registering with KYC: VDA Giants Take the Plunge!
In a recent update from the Finance Ministry, key players in the crypto world, including WazirX, Coin DCX, and Coinswitch, have officially aligned themselves with India’s Financial Intelligence Unit.
These entiti
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