According to Kashif Raza, Indian crypto exchanges have begun delisting privacy coins such as Zcash ZEC and Dash DASH under new AML CFT requirements, with the Financial Intelligence Unit ordering exchanges to remove these assets and halt trading, deposits, and withdrawals. According to Kashif Raza, the FIU has labeled privacy coins as unacceptable assets due to high risk and warned that these tools can allow funds from banned or sanctioned sources to pass through. According to Kashif Raza, exchanges must also collect data on non custodial wallets, and limits on transfers to non custodial wallets may be introduced, signaling immediate trading restrictions for privacy coin pairs on Indian platforms.

According to @simplykashif, India’s Financial Intelligence Unit has ordered crypto exchanges to remove privacy coins, labeling them unacceptable assets due to high risk (source: @simplykashif). Trading, deposits, and withdrawals of privacy coins must stop on exchanges (source: @simplykashif). The FIU warned these tools can allow funds from banned or sanctioned sources to pass through (source: @simplykashif). Exchanges must collect data on non custodial wallets, and limits on transfers to non custodial wallets may be introduced (source: @simplykashif).