India strictly bans trading privacy coins and requires crypto platforms to delist anonymous tokens.

PANews January 23 News, according to The Economic Times, the Financial Intelligence Unit (FIU) under India’s Ministry of Finance has requested domestic cryptocurrency exchanges and platforms to cease offering anonymous enhanced tokens (ACE), prohibit deposits or withdrawals of such tokens, and consider them as “unacceptable assets” under the risk mitigation framework. The FIU also warns that using tools like “tumbler” and “mixer” to launder coins, as well as transferring to self-custody wallets, may facilitate the flow of funds from sanctioned or blacklisted addresses, making it difficult to trace. Platforms are required to collect data related to non-custodial wallets and assess whether to set transaction limits for such transfers.