India's CBI just dropped a warning about P2P crypto fraud spiking hard. They're pushing users to stick with FIU-registered exchanges only and ditch sketchy peer-to-peer deals.
Translation: the unregulated P2P marketplace is getting exploited—scammers are using fake payment confirmations, reversing bank transfers after receiving crypto, or straight-up phishing users during direct trades.
FIU (Financial Intelligence Unit) registration means the exchange has to follow KYC/AML rules and report suspicious activity. It's not bulletproof, but it adds a compliance layer that raw P2P lacks.
If you're trading in India, this is basically the government saying "use Binance/WazirX-style platforms with escrow, or you're on your own when things go sideways." P2P still works for privacy-focused trades, but the risk surface just got a lot more visible to regulators.
Translation: the unregulated P2P marketplace is getting exploited—scammers are using fake payment confirmations, reversing bank transfers after receiving crypto, or straight-up phishing users during direct trades.
FIU (Financial Intelligence Unit) registration means the exchange has to follow KYC/AML rules and report suspicious activity. It's not bulletproof, but it adds a compliance layer that raw P2P lacks.
If you're trading in India, this is basically the government saying "use Binance/WazirX-style platforms with escrow, or you're on your own when things go sideways." P2P still works for privacy-focused trades, but the risk surface just got a lot more visible to regulators.