FIU-IND issues non-compliance notices to 25 offshore crypto service providers
The Financial Intelligence Unit-India (FIU-IND) said on 1 October 2025 that it had issued non-compliance notices to 25 offshore Virtual Digital Asset service providers under Section 13 of the Prevention of Money Laundering Act, 2002.
Summary
The Financial Intelligence Unit-India (FIU-IND), under the Ministry of Finance, said on 1 October 2025 that it had issued notices for non-compliance to 25 offshore Virtual Digital Asset Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering (PML) Act, 2002. The entities include Huione (Cambodia), BC.game, Paxful, Changelly, CEX.IO, LBank, BitMex, Poloniex and LCX, among others. The action is part of FIU-IND's compliance drive against offshore crypto platforms serving Indian users.
Key facts
- Agency
- Financial Intelligence Unit-India (FIU-IND), Ministry of Finance
- Action
- Non-compliance notices – 25 offshore VDA SPs
- Law
- Section 13, Prevention of Money Laundering Act, 2002
- Examples
- Huione, BC.game, Paxful, Changelly, BitMex, Poloniex, LCX
Practice MCQs 2 questions
Under which legal provision did FIU-IND issue notices to offshore Virtual Digital Asset service providers in October 2025?
Show answer
Correct answer: B — Section 13 of the PMLA, 2002
The notices were issued under Section 13 of the Prevention of Money Laundering Act, 2002.
How many offshore Virtual Digital Asset service providers received non-compliance notices from FIU-IND, as announced on 1 October 2025?
Show answer
Correct answer: D — 25
FIU-IND issued notices to 25 offshore VDA service providers.