From January 12
The Indian government has decided to block access to the world's leading cryptocurrency exchanges and virtual digital asset service providers, as reported by TASS with reference to The Economic Times.
This action comes after the government issued notices to foreign cryptocurrency exchanges for non-compliance with Indian laws, especially in the context of anti-money laundering. Notifications were sent on December 28, 2023 to exchanges such as Binance, Kucoin, Bittrex, Bitstamp, MEXC Global, Houbi, Kraken, Gate.io and Bitfinex.
Financial Intelligence Unit of India has given two weeks to these platforms to respond to the notices and take appropriate action keeping India's interests in mind. According to The Economic Times, the deadline expired on January 12.
It is reported that already downloaded applications may work for now, but new users will no longer be able to access them. Additionally, key features such as withdrawals and transfers are expected to stop working soon, even through downloaded apps.