India's Strict Crackdown on Privacy Cryptos
Delisting Privacy Coins: The Financial Intelligence Unit (FIU) has ordered Indian exchanges to delist Anonymous-Enhancing Coins (ACE), classifying them as "unacceptable assets."
Transaction Ban: Crypto platforms are now prohibited from allowing deposits or withdrawals for these anonymity-focused tokens to mitigate financial risks.
Ban on Mixing Services: Authorities are targeting "Mixers" and "Tumblers," stating that these tools hide the source of funds and help sanctioned entities bypass the law.
Stricter Wallet Monitoring: New regulations will require platforms to collect extensive data on transfers to non-custodial wallets, with specific transaction limits soon to be introduced.
The Goal: These measures are designed to curb money laundering and terrorist financing by ensuring every crypto transaction is fully traceable.
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