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SUMMARY
FIU has issued notices to 25 crypto platforms, including Paxful, CEX.IO, LBank, BingX, Coinex and AscendEx, for non-compliance with anti-money laundering regulations
The FIU said that directions have also been issued to the 25 platforms to take down their apps and websites for “operating illegally” in India
Despite the unclear status of cryptos, the government charges a 30% tax on profits from sale of VDAs and an additional 1% levy on transactions exceeding INR 10,000 in a…
