India

India’s Financial Intelligence Unit is set to approve two new offshore crypto exchanges

The Financial Intelligence Unit (FIU-India) of India is expected to approve two further offshore cryptocurrency exchanges to recommence their activities by the conclusion of the fiscal year 2025, after a comprehensive evaluation of their adherence to anti-money laundering (AML) legislation. The FIU is presently evaluating four fresh requests from four exchanges that were previously prohibited due to their failure to comply with India’s rigorous AML requirements. The agency stressed the

India to release its cryptocurrency policy by September

Economic Affairs Secretary Ajay Seth has stated that India will disclose its view on cryptocurrency policy by September after engaging in consultations with important parties. The policy will be formulated through a comprehensive process, involving the creation of a discussion paper that will outline the key concerns and solicit feedback from multiple stakeholders. The policy will be influenced by the agreement among stakeholders rather than being governed by extensive regulation.