Monero, Zcash, And Dash Prohibited In India Amid Money-Laundering Crackdown

bitcoinistPublished on 2026-01-24Last updated on 2026-01-24

Abstract

India's Financial Intelligence Unit (FIU-IND) has prohibited privacy-focused cryptocurrencies Monero (XMR), Zcash (ZEC), and Dash (DASH) in a new anti-money laundering crackdown. The directive orders all registered crypto exchanges in the country to immediately suspend deposits, withdrawals, and trading for these assets, citing their advanced cryptographic features that obscure transaction details and user identities. Regulators argue these privacy tools hinder compliance with KYC and anti-money laundering obligations, posing elevated risks for illicit financing. While the three coins showed short-term price gains following the announcement, they remain significantly down over the past week. This action is part of India's broader regulatory effort, which previously targeted unregistered offshore exchanges.

India’s Financial Intelligence Unit (FIU‐IND) has launched a fresh anti‐money‐laundering crackdown aimed at privacy‐focused cryptocurrencies. The move targets Monero (XMR), Zcash (ZEC), and Dash (DASH), which together represent the largest and most widely used privacy coins globally.

India Tightens Crypto Oversight

Details of the action were shared on Friday by market analyst MartyParty on social media platform X (previously Twitter), who notes that FIU‐IND has issued a directive to crypto exchanges registered in India, instructing them to immediately suspend deposits, withdrawals, and trading activity for Monero, Zcash, and Dash.

At the heart of the regulator’s concerns is the technology underpinning these assets. Privacy coins rely on advanced cryptographic techniques designed to obscure transaction details, wallet balances, and user identities.

Monero uses ring signatures to hide the sender and receiver, Zcash allows shielded transactions that conceal transaction data, and Dash offers optional privacy features.

While these tools are valued by users seeking confidentiality, regulators argue they make it difficult for exchanges to meet know‐your‐customer (KYC) and transaction‐monitoring obligations. The regulator views these features as posing elevated risks related to money laundering, terrorist financing, and sanctions evasion.

The latest directive applies to all cryptocurrency exchanges registed in the country, which currently includes crypto platforms operating in compliance with Indian regulations. They have been instructed to stop supporting the assets, including delisting, blocking all deposits and withdrawals, and disabling any associated trading pairs.

Monero, Zcash, And Dash Show Mixed Market Reaction

The latest action builds on a broader regulatory push by Indian authorities. In October 2025, FIU‐IND ordered internet service providers to block access to 25 offshore crypto exchanges that failed to register.

By contrast, only a handful of exchanges currently remain fully registered and compliant in the country. Binance, Mudrex, Coinbase, CoinSwitch (CoinSwitch Kuber), and ZebPay continue to operate legally in India.

Despite the regulatory pressure, market prices for the targeted privacy coins showed short‐term resilience. Over the past 24 hours, all three assets posted gains after recovering from sharp losses earlier in the week.

Monero was trading at $524 at the time of writing, up 3.5% on the day. Zcash also rebounded modestly, rising 2.2% to trade at $372. Dash recorded the strongest daily performance, jumping 11.6% during the same period.

However, the broader trend remains negative. According to CoinGecko data, Monero, Zcash, and Dash are still down sharply on a weekly basis, with losses of approximately 21%, 8%, and 20% respectively over the past seven days.

The 1D chart shows XMR’s volatility witnessed over the past week, with short-term support at $500. Source: XRMUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com

Related Questions

QWhich specific cryptocurrencies are targeted by India's Financial Intelligence Unit (FIU-IND) in its latest anti-money-laundering crackdown?

AMonero (XMR), Zcash (ZEC), and Dash (DASH).

QWhat is the primary regulatory concern that led to the prohibition of these privacy coins in India?

AThe advanced cryptographic techniques that obscure transaction details, wallet balances, and user identities, making it difficult for exchanges to meet KYC and transaction-monitoring obligations, posing elevated risks for money laundering, terrorist financing, and sanctions evasion.

QWhat actions have Indian crypto exchanges been instructed to take regarding these assets?

AThey have been instructed to immediately suspend deposits, withdrawals, and trading activity, including delisting the coins and disabling any associated trading pairs.

QDespite the ban, what was the short-term market reaction for Monero, Zcash, and Dash?

AAll three assets posted gains over the 24 hours following the news, with Monero up 3.5%, Zcash up 2.2%, and Dash recording the strongest performance with an 11.6% jump.

QWhich major crypto exchanges are named as being fully registered and compliant to operate legally in India?

ABinance, Mudrex, Coinbase, CoinSwitch (CoinSwitch Kuber), and ZebPay.

Related Reads

CLARITY Act: Banking Trade Groups Push For Yield Agreement Revision – Details

US banking trade groups are urging revisions to the stablecoin yield compromise in the upcoming CLARITY Act ahead of a key committee markup. The Act currently aims to ban all passive, deposit-like interest on stablecoins to prevent competition with traditional bank savings, while allowing rewards tied to active uses like staking or transactions. In a letter, groups including the American Banking Association and Bank Policy Institute proposed stricter language to eliminate perceived loopholes for passive yield and prevent deposit flight from banks. However, these efforts are reportedly viewed as minor by some lawmakers. The Senate Banking Committee is scheduled to mark up the bill on May 14, a critical step before it can advance through Congress.

bitcoinist12h ago

CLARITY Act: Banking Trade Groups Push For Yield Agreement Revision – Details

bitcoinist12h ago

This Finance CEO Picks Solana Instead Of Bitcoin — Here’s Why

Finance CEO Raoul Pal prefers Solana over Bitcoin, citing its high throughput and low transaction costs as better suited for the future crypto-AI era. He believes Solana is ideal for machine-to-machine microtransactions and AI-driven DeFi activity, predicting AI agents will soon dominate DeFi users. While Bitcoin serves as a store of value, Pal sees higher growth in networks built for mass, automated transactions. This view was highlighted at Consensus 2026, where AI integration and crypto infrastructure were key themes.

bitcoinist12h ago

This Finance CEO Picks Solana Instead Of Bitcoin — Here’s Why

bitcoinist12h ago

Gensyn AI: Don't Let AI Repeat the Mistakes of the Internet

In recent months, the rapid growth of the AI industry has attracted significant talent from the crypto sector. A persistent question among researchers intersecting both fields is whether blockchain can become a foundational part of AI infrastructure. While many previous AI and Crypto projects focused on application layers (like AI Agents, on-chain reasoning, data markets, and compute rentals), few achieved viable commercial models. Gensyn differentiates itself by targeting the most critical and expensive layer of AI: model training. Gensyn aims to organize globally distributed GPU resources into an open AI training network. Developers can submit training tasks, nodes provide computational power, and the network verifies results while distributing incentives. The core issue addressed is not decentralization for its own sake, but the increasing centralization of compute power among tech giants. In the era of large models, access to GPUs (like the H100) has become a decisive bottleneck, dictating the pace of AI development. Major AI companies are heavily dependent on large cloud providers for compute resources. Gensyn's approach is significant for several reasons: 1) It operates at the core infrastructure layer (model training), the most resource-intensive and technically demanding part of the AI value chain. 2) It proposes a more open, collaborative model for compute, potentially increasing resource utilization by dynamically pooling idle GPUs, similar to early cloud computing logic. 3) Its technical moat lies in solving complex challenges like verifying training results, ensuring node honesty, and maintaining reliability in a distributed environment—making it more of a deep-tech infrastructure company. 4) It targets a validated, high-growth market with genuine demand, rather than pursuing blockchain integration without purpose. Ultimately, the boundaries between Crypto and AI are blurring. AI requires global resource coordination, incentive mechanisms, and collaborative systems—areas where crypto-native solutions excel. Gensyn represents a step toward making advanced training capabilities more accessible and collaborative, moving beyond a niche controlled by a few giants. If successful, it could evolve into a fundamental piece of AI infrastructure, where the most enduring value in the AI era is often created.

marsbit13h ago

Gensyn AI: Don't Let AI Repeat the Mistakes of the Internet

marsbit13h ago

Why is China's AI Developing So Fast? The Answer Lies Inside the Labs

A US researcher's visit to China's top AI labs reveals distinct cultural and organizational factors driving China's rapid AI development. While talent, data, and compute are similar to the West, Chinese labs excel through a pragmatic, execution-focused culture: less emphasis on individual stardom and conceptual debate, and more on teamwork, engineering optimization, and mastering the full tech stack. A key advantage is the integration of young students and researchers who approach model-building with fresh perspectives and low ego, prioritizing collective progress over personal credit. This contrasts with the US culture of self-promotion and "star scientist" narratives. Chinese labs also exhibit a strong "build, don't buy" mentality, preferring to develop core capabilities—like data pipelines and environments—in-house rather than relying on external services. The ecosystem feels more collaborative than tribal, with mutual respect among labs. While government support exists, its scale is unclear, and technical decisions appear driven by labs, not state mandates. Chinese companies across sectors, from platforms to consumer tech, are building their own foundational models to control their tech destiny, reflecting a broader cultural drive for technological sovereignty. Demand for AI is emerging, with spending patterns potentially mirroring cloud infrastructure more than traditional SaaS. Despite challenges like a less mature data industry and GPU shortages, Chinese labs are propelled by vast talent, rapid iteration, and deep integration with the open-source community. The competition is evolving beyond a pure model race into a contest of organizational execution, developer ecosystems, and industrial pragmatism.

marsbit14h ago

Why is China's AI Developing So Fast? The Answer Lies Inside the Labs

marsbit14h ago

3 Years, 5 Times: The Rebirth of a Century-Old Glass Factory

Corning, a 175-year-old glass company, is experiencing a dramatic revival as a key player in AI infrastructure, driven by surging demand for high-performance optical fiber in data centers. AI data centers require vastly more fiber than traditional ones—5 to 10 times as much per rack—to handle high-speed data transmission between GPUs. This structural demand shift, coupled with supply constraints from the lengthy expansion cycle for fiber preforms, has created a significant supply-demand gap. Nvidia has invested in Corning, along with Lumentum and Coherent, in a $4.5 billion total commitment to secure the optical supply chain for AI. Corning's competitive edge lies in its expertise in producing ultra-low-loss, high-density, and bend-resistant specialty fiber, which is critical for 800G+ and future 1.6T data rates. Its deep involvement in co-packaged optics (CPO) with partners like Nvidia further solidifies its position. While not the largest fiber manufacturer globally, Corning's revenue from enterprise/data center clients now exceeds 40% of its optical communications sales, and it has secured multi-year supply agreements with major hyperscalers including Meta and Nvidia. Financially, Corning's optical communications revenue has surged, doubling from $1.3 billion in 2023 to over $3 billion in 2025. Its stock price has risen nearly 6-fold since late 2023. Key future catalysts include the rollout of Nvidia's CPO products and the scale of undisclosed customer agreements. However, risks include high current valuations and potential disruption from next-generation technologies like hollow-core fiber. The company's long-term bet on light over electricity, maintained even through the telecom bubble crash, is now being validated by the AI boom.

marsbit15h ago

3 Years, 5 Times: The Rebirth of a Century-Old Glass Factory

marsbit15h ago

Trading

Spot
Futures

Hot Articles

How to Buy DASH

Welcome to HTX.com! We've made purchasing DASH (DASH) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy DASH (DASH) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your DASH (DASH)After purchasing your DASH (DASH), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade DASH (DASH)Easily trade DASH (DASH) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

2.6k Total ViewsPublished 2024.03.29Updated 2025.03.21

How to Buy DASH

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of DASH (DASH) are presented below.

活动图片

Top Questions