India to Re-Approve Two Banned Crypto Exchanges by 2025

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India on its Crypto Way! India’s Financial Intelligence Unit (FIU) plans to clear two offshore crypto exchanges for operations by March 2025, following approvals of Binance and KuCoin. These exchanges were banned for anti-money laundering (AML) violations. FIU-India is reviewing four more platforms, with two likely to resume, pending a thorough compliance assessment. Previously, Binance and KuCoin were allowed back after meeting AML standards, with KuCoin paying a fine. India now has 48 registered crypto entities, while the government debates the future of crypto assets in an upcoming consultation paper.