TLDR
- 49 crypto exchanges registered with FIU-IND during the 2024–25 financial year.
- INR 2.8 billion in penalties imposed on exchanges for AML non-compliance.
- 4 offshore and 45 Indian exchanges are now under FIU-IND oversight.
- AML registration enforces KYC, reporting, and suspicious transaction tracking.
India’s Financial Intelligence Unit (FIU-IND) confirmed that 49 cryptocurrency exchanges have officially registered under its anti-money laundering framework in the 2024–25 financial year. Among these, 45 are domestic firms, while four are offshore platforms now operating under Indian rules.
BREAKING: 🇮🇳 49 crypto exchanges registered with Financial Intelligence Unit (FIU) in FY 2024–25
– 45 India-based, 4 offshore platforms
– ₹28 crore in penalties imposed on non-compliant exchanges during the year. pic.twitter.com/mrPwsYgqpf
— Crypto India (@CryptooIndia) January 6, 2026
The registration brings these platforms under the same compliance structure used by traditional financial institutions. This includes requirements around customer verification, transaction monitoring, and reporting of suspicious activity. The updated rules mark a larger effort by Indian authorities to prevent the misuse of digital assets for illegal financial activity.
FIU-IND Enforces AML Rules with INR 2.8 Billion in Penalties
According to the latest FIU-IND report, authorities imposed fines totaling INR 2.8 billion on platforms that failed to follow AML rules. These penalties were directed at exchanges that did not register or failed to follow customer due diligence and transaction reporting requirements.
Platforms that skipped registration or did not maintain KYC standards were among the most penalized. The FIU-IND’s enforcement shows that regulatory oversight is not limited to compliance requests but includes strict financial penalties for those who do not meet the criteria.
FIU-IND monitors financial transactions across the country to combat risks related to fraud, money laundering, and terror financing. With this extension to the crypto sector, digital asset platforms are now fully within its scope.
Offshore Platforms Now Facing Regulatory Pressure in India
India’s rules now apply not only to domestic platforms but also to global exchanges that offer services to Indian users. Of the 49 registered exchanges, four are foreign-based, showing that offshore companies are responding to regulatory expectations.
Earlier, authorities blocked access to non-compliant foreign exchanges and limited their use of payment gateways. Some global platforms exited the Indian market as a result. Now, a few have chosen to meet Indian AML requirements and continue operating under local law.
This change shows that India remains a high-priority market for global crypto firms despite regulatory hurdles and high taxation. FIU-IND expects all platforms, regardless of location, to align with Indian standards when servicing local users.
Registration Brings Clarity but Increases Compliance Burden
To be registered with FIU-IND, crypto exchanges must implement Know Your Customer procedures, verify user identities, and maintain clear records. They must also report any unusual activity to the regulator. This framework increases operational costs but reduces legal uncertainty for registered firms.
For users, this shift could increase trust in platforms that follow the law. These changes allow compliant exchanges to continue their operations without facing unexpected service bans or restrictions.
The registration also indicates the government’s broader approach. India is not banning crypto trading but is setting strict operational conditions for firms. As more exchanges register, enforcement is expected to increase, bringing additional monitoring to the digital asset space.
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