The Indian government stepped up its crackdown on offshore crypto exchanges operating without local registrations, asking Apple Inc. to take the apps of platforms including Binance off its App Store in the country. Bitfinex, HTX and Kucoin are among eight exchanges whose apps are no longer available on the App Store in India. They were removed on directions from the Ministry of Electronics and Information Technology, according to people with knowledge of the matter who asked not to be identified because the request isn't public.
The move marks a significant escalation of India's clampdown on offshore crypto platforms like Binance, which started Dec. 28 when authorities notified nine exchanges that they are suspected of misconduct. Indian crypto traders had already began moving deposits to local exchanges that abide by the nation's regulations, fearful of losing access to their funds.
Authorities also asked Alphabet Inc.'s Google to remove the apps, one of the people said. Google Play Store in India still featured the exchange apps that were taken off the App Store as of 2 p.m. local time on Wednesday. Apple, Google and India's technology ministry did not respond to requests for comment.
India's Financial Intelligence Unit issued so-called compliance show-cause notice to the nine offshore platforms on Dec. 28 and also asked the information ministry to block the URLs of the entities. The FIU at the time said the exchanges are operating illegally in India without complying with anti-money laundering laws. The websites are still accessible from India.
Of the exchanges singled out in that announcement, only Bitstamp was still available to download on the local App Store on Wednesday. Of the two versions US-based Kraken
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