Days after the Indian government delivered compliance show cause notices to nine entities, Apple pulled Binance, KuCoin, and other offshore cryptocurrency exchanges from its app store in India.Despite not receiving a show cause notice, OKX, a well-known offshore bitcoin exchange, has also been taken down from the Apple India app store.The nine exchanges that received notices include Bitfinex, MEXC Global, Bittrex, Bitstamp, Huobi, Kraken, Gate.io, Binance, KuCoin, and Huobi.
In accordance with the Prevention of Money Laundering Act (PMLA), India’s Financial Intelligence Unit (FIU), a division of the Finance Ministry, sent compliance show cause notes on December 28.Additionally, the government started blocking the URLs of “said entities that are operating illegally without complying.”CoinDesk was informed by a person with knowledge of the situation that the URLs for these exchanges are still operational in India despite the lengthy and ongoing paperwork required for this procedure.The individual stated that before taking any further action, the Indian government might wish to wait for the firms to reply to the notices.The apps continue to show on Google PlayStore.
Apple India or the FIU could not be reached immediately for comment.