ChainCatcher news, the Indian Financial Intelligence Unit (FIU) plans to approve two more offshore cryptocurrency exchanges to resume operations in the country.According to reports, the financial intelligence agency (FIU) responsible for India's anti-money laundering (AML) compliance is reviewing requests from four overseas cryptocurrency exchanges that were previously banned for non-compliance with the country's anti-money laundering regulations.Insiders stated, "We have received requests from four more offshore cryptocurrency exchanges to operate in India, and we expect at least two of them to be allowed to resume operations by the end of the fiscal year 2025. This decision will be made after a thorough review of transaction visibility, suspicious transaction reporting, and other related issues."It is reported that in January of this year, the Indian financial intelligence agency (FIU) blocked the URLs and mobile applications of nine foreign cryptocurrency exchanges due to their non-compliance with the country's anti-money laundering norms.

ChainCatcher news, according to CoinDesk, India's financial intelligence unit has imposed a fine of $2.2 million on Binance for failing to comply with anti-money laundering regulations. In January 2024, Binance and several other offshore cryptocurrency exchanges were issued a show-cause notice by Indian authorities for "illegal operations" and were subsequently expelled from India.Binance and KuCoin became the first offshore crypto-related entities approved by India's Financial Intelligence Unit (FIU) in May, but on the condition that they pay the fine after a hearing with the FIU.

According to ChainCatcher news, Russian media reported that the Russian financial intelligence agency will invest 340 million rubles (approximately 5 million USD) to update its cryptocurrency monitoring system, bringing the total development tender to 1 billion rubles. The system will download public data of the following cryptocurrencies from blockchain nodes: BTC, BCH, LTC, and DOGE.In addition, the system is expected to have the capability to track external blockchain data (such as media and social networks), a hash address search mechanism, and create an interface for cryptocurrency quotes. The agency believes that cryptocurrencies "should be legally equivalent to property," and this monitoring helps identify criminal activities from a legal perspective. (Source link)