India bans trading of privacy coins, requires crypto platforms to delist anonymous tokens

PANews, January 23 – According to The Economic Times, India's Financial Intelligence Unit (FIU), which operates under the Ministry of Finance, has requested domestic cryptocurrency exchanges and platforms to cease offering anonymous enhanced cryptocurrencies (ACE). These platforms are prohibited from allowing deposits or withdrawals of related tokens, which are now considered "unacceptable assets" under the risk mitigation framework. The FIU also warned that using tools such as "tumblers" and "mixers" for coin mixing, as well as transferring to self-custody wallets, may allow funds from sanctioned or blacklisted addresses to enter the system and become difficult to trace. Platforms are required to collect data related to non-custodial wallets and assess whether to set upper limits on such transfers.