https://techcrunch.com/2023/12/28/india-government-agency-seeks-to-block-binance-and-kraken/

Financial Intelligence Unit, an Indian government agency which scrutinizes financial transactions, said Thursday nine global crypto exchanges — including Binance, Kraken, Kucoin and Mexc — are operating “illegally” in the country without complying with the local anti-money laundering act and asked the IT Ministry to block their websites.

FIU said it has issued show cause notices to all nine firms. Global crypto exchanges are required to comply with India’s anti-money laundering rules and cannot evade the guidelines just because they don’t have physical presence in the country, the government agency said.