India to block crypto exchange websites in widening crackdown

India clamped down on overseas crypto exchanges like Binance that it says are operating illegally there, moving to block local access to their websites. The Financial Intelligence Unit issued so-called compliance show-cause notices to several platforms including Binance, Kraken, KuCoin and Huobi. It also asked the information ministry to block the URLs of the nine entities, according to a statement late Thursday.

“Several offshore entities catering to a substantial part of Indian users were not getting registered and coming under the Anti Money Laundering (AML) and Counter Financing of Terrorism (CFT) framework,” the FIU said in the statement.