Although Google’s Play Store blocked the FIU-notified crypto exchanges, they are still available and working for old users with the app installed and on the web.
Google has removed various offshore exchanges from India’s Play Store, such as Binance, KuCoin, Bitget, Huobi, OKX, Gate.io, and MEXC. The removal follows the delisting of the same apps from India’s Apple App Store. The government’s noncompliance notice led to the removal, making these apps unavailable for new users in India.
The Indian Ministry of Finance’s Financial Intelligence Unit (FIU) on Dec. 28, 2023, issued a notice to Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex, and Bitfinex for operating illegally in India.
The FIU notice stated that any exchange providing services to Indian users must register as a “reporting entity” and submit statements to the income tax department. The FIU proposed that the Ministry of Electronics and Information Technology block the websites of the mentioned exchanges due to non-compliance.
