India, Oct. 2 -- The finance ministry's Financial Intelligence Unit (FIU-IND) has issued notices to 25 offshore crypto platforms for non-compliance with anti-money laundering regulations.

The notices have been issued to crypto platforms such as Paxful, CEX.IO, LBank, BingX, Coinex, AscendEx, BTCC and CoinW. The registered addresses of many of these platforms, as per a government statement, were traced back to the US, UK, Hong Kong, Singapore as well as tax havens like Saint Lucia, Seychelles, British Virgin Islands and others.

In a statement, the FIU said that directions have also been issued to the 25 platforms to take down their apps and websites for "operating illegally" in India.

". The Director FIU IND, in exercise of powers under...