Why did FIU send a show cause notice to 9 crypto exchanges?
In recent developments, the Financial Intelligence Unit (FIU) has issued a show cause notice to nine cryptocurrency exchanges, sparking widespread curiosity in the financial and crypto communities. Could you elaborate on the possible reasons behind this unprecedented action? What specific concerns or irregularities may have prompted the FIU to take such a stringent measure? Are these exchanges suspected of violating any regulatory guidelines or engaging in illegal activities? The crypto landscape is already fraught with complexity and uncertainty, and this latest development adds yet another layer of intrigue. Clarifying the reasons behind this notice would be invaluable in understanding the current regulatory landscape and its potential implications for the future of cryptocurrency.