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first_img India's financial intelligence agency issued violation notices to 15 offshore cryptocurrency platforms

The Financial Intelligence Unit of India (FIU-IND) issued non-compliance notices to 15 offshore virtual digital asset service providers under Article 13 of the Anti-Money Laundering Act, including Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT, and Guardarian. These platforms are accused of providing services to Indian users without registering with FIU-IND.Since March 2023, India has included cryptocurrency platforms in the same anti-money laundering regulatory framework as banks, requiring any platform serving Indian customers, regardless of whether they have an office in India, to complete registration and fulfill user verification, record-keeping, and suspicious transaction reporting obligations. FIU-IND also warned the public that cryptocurrency products and NFTs are unregulated and carry extremely high risks, and related trading losses may not be eligible for regulatory relief.This action comes amid reports of Indian users converting stablecoins like USDT into gift cards through platforms in Sweden, Germany, and Singapore to purchase groceries, fuel, and gold in India. Previously, FIU-IND had issued notices to nine major offshore exchanges, including Binance, Kraken, and KuCoin, in December 2023, after which Binance completed its registration and paid a fine of 1.882 billion rupees.

first_img Samsung Electro-Mechanics and LG Innotek advance Intel's EMIB-T substrate supply

According to a report by ZDNet Korea on the 9th, Samsung Electro-Mechanics and LG Innotek are advancing into the Intel EMIB-T packaging substrate supply chain, with related product development and testing already underway. EMIB connects chips with small silicon bridges, which Intel previously used mainly for its own chips; the improved EMIB-T is expanding external sales. The next-generation AI accelerator TPU that Google plans to launch in the second half of next year will be the first to use EMIB-T. EMIB-T inserts silicon vias for power transmission within the silicon bridge.Insiders say that Samsung Electro-Mechanics has developed EMIB substrate samples over the years and is currently advancing EMIB-T supply based on the 2.1D packaging substrate concept. Recently, LG Innotek delivered EMIB-T packaging substrates to SK Hynix for sample testing, and both parties are installing HBM on the substrate to evaluate product characteristics.Currently, EMIB-T packaging substrates are supplied by Japan's Ibiden, Shinkawa Electric, Taiwan's Xinxing Electronics, and Austria's AT&S. Ibiden has decided to utilize idle factories to construct a dedicated production line for Intel's EMIB-T substrates, with an investment scale of about 20 trillion Korean won, and it is reported that they have already received advance payments from Google, Amazon, Intel, and others.
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