India Orders Removal of 25 Crypto Exchange Apps Over AML Violations

Authorities target platforms including BingX and Paxful for anti-money laundering compliance failures, intensifying regulatory oversight of cryptocurrency services.

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Terms & Concepts
  • Anti-Money Laundering (AML): A set of laws, regulations, and procedures aimed at preventing criminals from disguising illegally obtained funds as legitimate income.
  • Crypto Exchange: An online platform that allows users to buy, sell, and trade cryptocurrencies.
  • App Withdrawal Order: A directive by authorities to remove specific applications from app stores or online platforms, preventing user access.