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Financial Intelligence Unit-India, under the finance ministry, has issued notices to 25 offshore virtual digital asset providers, including British Virgin Islands-based LBank and BingX that feature among top 20 crypto exchanges in the world, for non-compliance with norms under the Prevention of Money Laundering Act.

The government has also instructed these entities to take down their applications/websites from public access in India, the finance ministry said in a statement on Wednesday.

The government had in 2023 brought virtual digital asset providers under the ambit of its law on money laundering.

'It must be mentioned that the Crypto products and NFTs are unregulated a

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