India Cracks Down on Offshore Crypto Firms Over AML Breaches

India’s financial watchdog is targeting 25 offshore crypto firms amid allegations of anti-money laundering (AML) violations. As part of a broader crackdown led by the country’s Financial Intelligence Unit (FIU).

The move comes amid growing scrutiny of how digital asset platforms may facilitate illicit capital flows across borders. According to the FIU campaign, these firms are believed to have failed in compliance obligations—such as customer due diligence, transaction monitoring, and reporting—to India’s AML framework. Indian authorities say they may invoke penalties, freeze accounts, or restrict operations of non-compliant entities to enforce tighter oversight.

Clever Robot News Desk 4^th October 2025