Apple and Google Remove Several Major Crypto Exchanges From App Stores in India Following Regulatory Crackdown

Apple and Google person removed respective large crypto exchanges from their app stores successful India aft the Indian Financial Intelligence Unit flagged 9 crypto work providers arsenic operating illegally successful the country. Various telecom networks and net work providers successful India are besides blocking the websites of affected crypto exchanges.

India Continues Crackdown connected Uncompliant Crypto Platforms

Tech giants Google and Apple person taken enactment against respective large crypto speech apps successful India pursuing the crackdown connected offshore crypto exchanges by Financial Intelligence Unit India (FIU IND).

On Saturday, Google removed large crypto exchanges similar Binance and Kraken from Google Play Store successful India portion Apple pulled crypto speech apps from its App Store a fewer days earlier. In addition, assorted telecom networks and net work providers successful India person besides started blocking the websites of affected crypto exchanges.

In December past year, India’s Financial Intelligence Unit issued “compliance amusement origin notices” to 9 offshore crypto firms. The authorities explained that each crypto work providers operating successful India are required to registry with the FIU IND arsenic a reporting entity and comply with the rules acceptable distant by the Prevention of Money Laundering Act 2002. The Ministry of Finance stated astatine the clip that 31 crypto work providers person registered with the FIU IND.

The 9 crypto firms that received a announcement from the FIU IND are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.

Commenting connected Apple removing its app, earlier Google implemented a akin policy, Binance Customer Support detailed connected X Friday:

We are alert of an IP artifact affecting a fig of crypto firms, including Binance. This lone impacts users who effort to entree the Indian iOS app store oregon the Binance website from India. Existing users who already person the Binance app are not affected.

“The ongoing concern is not unsocial to Binance and impacts different web3 manufacture players arsenic well. We are moving hard to pass constructive policy-making that seeks to payment each idiosyncratic and each marketplace participants. All idiosyncratic funds are safe,” Binance Customer Support noted.

What bash you deliberation astir Apple and Google removing crypto speech apps flagged by the FIU from their app stores? Let america cognize successful the comments conception below.