India seeks takedown of 15 crypto apps; users may lose access

On Sept. 9 India’s Financial Intelligence Unit (FIU-IND) issued non-compliance notices to 15 cryptocurrency platforms and requested that their public mobile apps and web URLs be removed from access in India. The agency said the platforms were not meeting anti‑money laundering and counter‑terrorist financing obligations.

The order was issued under India’s information technology rules and the Prevention of Money Laundering Act framework. FIU-IND named both consumer-facing brands and the corporate entities tied to them, including Weex (Weex International Exchange LTD), BloFin (BLF Global Limited), Rezorex (RezorEx), Bitunix (Bitunix LLC), DigiFinex (DigiFinex Ltd), Toobit (Hopeful Technology Co. Ltd.), XT.com (Fibtc Ltd / XT TECHNICAL PTE. LTD.), Latoken (LAtrade Ltd), WOO X (Wootech Limited), Pionex (Marketa Trading Inc.), ChangeNow (CHN Group LLC), SimpleSwap (SimpleSwap LTD), FixedFloat (FFGX Group LLC), WhiteBIT (UAB Clear White Technologies) and Guardarian (FinSeven CZ).

The FIU-IND notice seeks takedown of public apps and web addresses in India but does not confirm that app stores or internet service providers have removed the listed items. The agency also did not state that customer accounts, balances or withdrawals have been frozen.

Under rules introduced in March 2023, virtual-asset service providers that offer exchange, transfer, custody, administration or issuer-related services to Indian users must register as reporting entities and meet reporting and record‑keeping obligations. The test for coverage is whether services are offered to users in India; offshore incorporation or the absence of a physical office does not automatically exempt a provider.

FIU-IND did not provide a common remediation deadline or outline a process for restoring public access. The notice included no platform-specific guidance for Indian customers and did not report responses from the named companies.

The immediate operational risk for users is loss of access to apps and websites rather than confirmed loss of funds, though restricted public access could disrupt normal login and withdrawal routes. Whether takedowns are effected will depend on intermediaries such as app stores and internet service providers and on any actions taken by the platforms.

FIU-IND issued similar notices to nine offshore providers in December 2023; subsequent checks found some sites inaccessible in some environments while others remained reachable. Restoration of access for the current cohort will depend on whether each provider resolves its FIU registration and compliance status. For now, the FIU-IND action is limited to issuance of non‑compliance notices and requests to remove public apps and URLs from Indian access.