🚨 **India's Crypto Crackdown Shakes Market! 🇮🇳💔 FIU Sends Shockwaves with Notices to Binance and More - Illegal Operations Unveiled!**
In a dramatic turn of events, India's Financial Intelligence Unit (FIU) has unleashed a wave of "show cause notices" 📜 on major crypto exchanges, accusing them of violating Indian laws! 😱🚫
**Offshore Allegations Hit Big Names! 🌐**
Binance, Kucoin, Huobi, Kraken, and others under the FIU's radar! 😬 Accused of illegal operations through entities based outside India, these exchanges face a storm of scrutiny. 🌩️🏦
**FIU's Verdict: AML-CFT Framework Flouted! 🕵️♂️💸**
FIU's eagle eyes catch crypto exchanges off-guard! 🦅 Despite guidelines set in March 2023, accusing fingers point at exchanges for not following the Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework. 💼💔
**Unfulfilled Duties & Show Cause Drama! 😞📉**
FIU alleges these exchanges didn't register under the Prevention of Money Laundering Act, failing to report financial activities as mandated. Traditional banks' obligations, but in the crypto world, chaos ensues! 🔄💰
*Also Read: NFPrompt (NFP) Coin Analytics, Price, Marketcap and Future Predictions. (Source: bombolo.in)*
**🔍 Peeking into the 31 Registered Entities!**
Government's legal arsenal unleashed! 🔐 "Show cause notices" target Binance and peers under the Prevention of Money Laundering Act from 2002. Will the giants fall? 🏛️👀
**Websites Under Siege! 🚫🌐**
FIU demands action! 👮♂️ Ministry
