India's financial intelligence agency has instructed cryptocurrency exchanges to suspend deposits, withdrawals, and trading of privacy-focused tokens such as Monero, Zcash, and Dash. The move aims to curb money laundering activities and points out that the obscured transaction details of these tokens pose compliance challenges. The decision aligns with global regulatory trends that call for strict scrutiny of the limited traceability of such assets.
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India's financial intelligence agency has instructed cryptocurrency exchanges to suspend deposits, withdrawals, and trading of privacy-focused tokens such as Monero, Zcash, and Dash. The move aims to curb money laundering activities and points out that the obscured transaction details of these tokens pose compliance challenges. The decision aligns with global regulatory trends that call for strict scrutiny of the limited traceability of such assets.