The Financial Intelligence Unit has sent a show cause notice to nine offshore cryptocurrency exchanges after they were allegedly found to be illegally operating in India by not complying with the country's anti-money laundering law. The Financial Intelligence Unit (FIU), that comes under the Indian Finance Ministry has issued a show cause notice to 9 offshore crypto exchanges, and has asked the Ministry of Electronics and Information Technology (MeitY) to block their URLs in India. The action has been taken for alleged non-compliance with Indian anti-money laundering law.