India FIU Issues PMLA Notices to 15 Offshore Crypto Platforms
India’s Financial Intelligence Unit (FIU-IND) has issued non-compliance notices to 15 virtual digital asset service providers under Section 13 of the Prevention of Money Laundering Act, 2002, extending its enforcement focus to offshore crypto platforms serving Indian users.
The Ministry of Finance announced the action on 9 September 2026. The platforms named are Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT and Guardarian.
FIU-IND also issued takedown notices concerning the applications and URLs associated with the entities for public access in India. The official release states that the platforms were found to be operating without complying with relevant PMLA requirements.
AML obligations apply to offshore providers
Virtual digital asset service providers were brought within India’s AML/CFT framework in March 2023. FIU-IND said providers operating in India are required to register as reporting entities and comply with applicable reporting, record-keeping and other PMLA obligations.
Importantly, those obligations are activity-based rather than dependent on a provider having a physical presence in India. This means offshore exchanges and other virtual asset businesses serving Indian users can still fall within the country’s AML compliance framework.
The action reinforces a broader regulatory trend in which financial intelligence units are applying AML registration and reporting requirements to cross-border virtual asset services based on the markets they serve, rather than solely on where the provider is incorporated.
