India’s financial intelligence unit flags 15 crypto platforms for AML lapses

60-second summary

India’s Financial Intelligence Unit flags fifteen crypto platforms for anti‑money‑laundering lapses, issuing non‑compliance notices that demand remedial action within 30 days and threaten penalties up to 10 % of annual turnover. The move follows heightened regulatory scrutiny after several high‑profile frauds, signaling tighter oversight that could curb illicit flows but also pressure legitimate exchanges, potentially tightening market liquidity.