India's Financial Intelligence Unit (FIU) is reportedly planning to approve two additional offshore crypto exchanges to restart operations in the country. This comes after FIU had earlier blocked access to nine foreign crypto exchanges, including Binance and KuCoin, for failing to comply with the country's anti-money laundering (AML) norms.

According to a local news report, the FIU is now scrutinizing requests from four overseas crypto exchanges that were earlier banned for not adhering to the country's AML regulations. The source quoted in the report indicates that at least two of these exchanges are expected to be permitted to resume operations by the end of the current fiscal year.

The approval process will involve a thorough review of the exchanges' transaction visibility, suspicious transaction reporting, and other related compliance issues. This move signifies India's evolving stance on regulating the crypto sector, as it seeks to balance market access with robust AML measures.

Source: https://cointelegraph.com/news/fiu-india-approves-offshore-crypto-exchanges

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