Binance India news in brief: Binance registered with India’s Financial Intelligence Unit (FIU-IND) in May 2024 after a December 2023 show-cause notice, paid a reported penalty of approximately $2 million USD, and resumed services for Indian users. All profits remain subject to India’s 30% VDA tax and 1% TDS rules regardless of which exchange you use.
Last updated: July 2026. Reviewed by the CryptoWire editorial team.
Risk notice: Crypto investing carries significant risk. The value of any digital asset can fall sharply and quickly. Never invest money you cannot afford to lose. Regulatory status and tax rules can change. Always verify information directly with official government sources and consult a qualified tax professional.
- Key Takeaway 1: Binance is registered with FIU-IND as of May 2024, making it a compliant Virtual Digital Asset Service Provider (VASP) under Indian law. Verify current status at fiuindia.gov.in before depositing funds.
- Key Takeaway 2: All crypto profits you earn on Binance are taxed at 30% flat in India under Section 115BBH, with no deduction for losses from other assets.
- Key Takeaway 3: A 1% TDS is deducted on crypto sales above ₹10,000 per year for most individual users under Section 194S of the Income Tax Act.
- Key Takeaway 4: Fake Binance apps and phishing sites are a serious threat in India. Always download Binance only from binance.com or official app stores.
- Key Takeaway 5: New listings on Binance can affect Indian portfolios significantly. Check our upcoming Binance listings tracker before acting on any listing rumour.
Binance India News: Legal and FIU-IND Registration Status
The biggest binance india news story of the past two years is the exchange’s journey from being blocked to becoming a registered VASP. In December 2023, the FIU-IND issued show-cause notices to nine offshore crypto exchanges operating without PMLA registration, and Binance was on that list. The Indian government had Binance’s app removed from domestic app stores and blocked its web access for Indian users.
Binance responded by engaging with Indian regulators and formally applied for FIU-IND registration. According to a Reuters report from May 2024, Binance paid a penalty of approximately $2 million USD to FIU-IND and became one of the first major global exchanges to register with FIU-IND in India. This registration means Binance must comply with India’s anti-money laundering (AML) and Know Your Customer (KYC) norms under the Prevention of Money Laundering Act (PMLA).
As of the date of this article, Binance’s FIU-IND registration is listed as active on the FIU-IND portal. Indian users should check fiuindia.gov.in directly for the latest registered VASP list, as status can change. Other exchanges including WazirX, CoinDCX, ZebPay, and Mudrex are also registered with FIU-IND, giving Indian users domestic alternatives if Binance’s status changes.
It is worth noting that the Reserve Bank of India (RBI) still does not recognise crypto as legal tender, and SEBI’s role in crypto regulation continues to be defined under proposed legislation. Registration with FIU-IND is a compliance step under PMLA, not a government endorsement of crypto investing.
What Indian Users Must Know: Tax, TDS, and KYC on Binance
Using Binance as an Indian resident does not exempt you from Indian tax law. The Income Tax Department’s rules apply to your crypto income regardless of which exchange you use. Here is what that means in practice.
The 30% VDA Tax and 1% TDS Explained
Under Section 115BBH of the Income Tax Act, any profit from selling, swapping, or gifting a Virtual Digital Asset (VDA) is taxed at a flat 30% rate, plus applicable surcharge and cess. You cannot offset crypto losses against gains from stocks or mutual funds. You cannot even offset a loss in Bitcoin against a gain in Ethereum under Section 115BBH(2).
On top of that, Section 194S mandates a 1% TDS on crypto transactions above the threshold. For most individual users, the threshold is ₹10,000 in a financial year; for specified persons such as businesses, it is ₹50,000. If you are trading on a foreign exchange like Binance, the responsibility to deduct and deposit TDS technically falls on the buyer in a peer-to-peer trade, which creates compliance complexity. For more detail on how TDS refunds and NRI rules work, read our guide on India crypto TDS refund and NRI rules.
KYC Requirements for Indian Binance Users
Binance now requires full KYC for Indian users as part of its FIU-IND compliance. You will need to submit a government-issued ID such as Aadhaar, PAN, or passport, and complete a selfie verification. Binance’s KYC process for Indian users aligns with Indian PMLA requirements. If you have not completed KYC, Binance may restrict withdrawals or trading. Our step-by-step guide on how to complete crypto KYC in India covers what documents you need and common rejection reasons.
| Tax/Compliance Item | Rate / Rule | Applicable Section |
|---|---|---|
| VDA Profit Tax | 30% flat (+ surcharge/cess) | Section 115BBH, IT Act |
| TDS on Crypto Sale | 1% of transaction value | Section 194S, IT Act |
| TDS Threshold (Individuals) | ₹10,000 per financial year | Section 194S |
| TDS Threshold (Specified Persons) | ₹50,000 per financial year | Section 194S |
| Loss Set-Off Against Other Income | Not allowed | Section 115BBH(2) |
| KYC Requirement (FIU-IND Compliant Exchanges) | Mandatory (PMLA) | PMLA 2002, FIU-IND Guidelines |
Recent Binance India News: 2023 to 2026 Timeline
The binance india news cycle has moved fast. Here is a quick timeline so you are not relying on outdated information from cached search results.
December 2023: FIU-IND Show-Cause Notice
India’s FIU-IND flagged Binance along with eight other offshore exchanges for operating without PMLA registration. Binance’s app was pulled from Indian app stores and its website became inaccessible for many Indian users. This was a significant moment because it showed Indian regulators were serious about offshore exchange compliance.
May 2024: FIU-IND Registration Secured
Binance submitted its registration documents and paid a reported penalty of approximately $2 million USD to FIU-IND, according to Reuters (May 2024). After completing the process, Binance was restored to Indian app stores and resumed full services for Indian users. The FIU-IND confirmed Binance as a registered VASP, making it one of the first major global exchanges to achieve this status in India.
2025 to 2026: Ongoing Compliance and New Listings
Binance has continued adding new cryptocurrency listings that Indian investors watch closely. According to FIU-IND data published in its 2024 annual report, the number of registered VASPs in India grew to over 30 entities by end of 2024, reflecting rapid formalisation of the sector. If you want to track what is being listed and what might be coming next, our Binance new listings page and upcoming Binance listings tracker are updated regularly. New listings can create short-term price spikes, but they also carry high risk, so do your own research before acting.
How to Spot Fake Binance Apps, Sites, and Scams
Searches for fake Binance apps have jumped significantly in India, and that is not surprising. Scammers know Binance is a trusted name and use it to steal funds. The Indian Cybercrime Coordination Centre (I4C) reported in its 2024 annual cybercrime report that investment scams involving fake crypto apps were among the top three categories of financial cybercrime reported by Indian users, with losses running into hundreds of crores of rupees. Binance India news related to scams is a growing concern for retail users.
Red Flags to Watch For
- App Store impersonators: Fake Binance apps often have slightly misspelled names like “Binance Pro,” “Binance India Official,” or “Binance Exchange App.” Check the developer name. The real Binance app is published by Binance Inc.
- Phishing URLs: Scam sites use URLs like binance-india.com, binanceinr.com, or binance.co.in. The only real site is binance.com.
- WhatsApp and Telegram groups: Groups claiming to be “Binance India Support” or offering “exclusive Binance listings” are almost always scams. Binance does not offer customer support through WhatsApp.
- Guaranteed return offers: Any message promising fixed daily returns through Binance is a fraud. No exchange guarantees returns on crypto.
- Unsolicited KYC requests: If someone contacts you claiming your Binance account needs urgent KYC via a link they send, do not click. Go directly to binance.com.
How to Verify You Are on the Real Binance
Always type binance.com directly into your browser. Check for the padlock icon and HTTPS in the address bar. For the mobile app, download it only from the Google Play Store or Apple App Store, and verify the developer name is Binance Inc. with a large number of legitimate reviews.
If you have accidentally installed a fake app or shared your credentials, change your password immediately, enable two-factor authentication (2FA), and report the incident to cybercrime.gov.in, India’s national cybercrime reporting portal.
Frequently Asked Questions
Is Binance registered in India?
Yes. Binance registered with India’s Financial Intelligence Unit (FIU-IND) in May 2024 after receiving a show-cause notice in December 2023 and paying a reported penalty of approximately $2 million USD. You can check the current list of registered VASPs on the FIU-IND official portal at fiuindia.gov.in to confirm the latest binance india registration status before depositing funds.
What is the latest Binance India news?
The most recent binance india news covers the exchange’s FIU-IND compliance journey completed in 2024, ongoing KYC enforcement for Indian users, continued new cryptocurrency listings, and rising fake app scam warnings from Indian cybercrime authorities. Regulatory developments are moving quickly, so check CryptoWire.in regularly for updates rather than relying on cached search results.
Do I pay tax on Binance profits in India?
Yes, absolutely. The exchange you use does not change your Indian tax obligation. All crypto profits including those made on Binance are taxed at 30% under Section 115BBH of the Income Tax Act. You will also have 1% TDS implications depending on your transaction volume. Consult a chartered accountant familiar with VDA taxation for your specific situation.
How do I spot fake Binance apps in India?
Check the app developer name in the app store (it should be Binance Inc.), verify the download count and reviews are genuine, and never install APKs from third-party links sent via WhatsApp or Telegram. The real Binance website is binance.com only. Any variation of that URL is a phishing site. Report fake apps to cybercrime.gov.in.
Can Indian users withdraw INR from Binance?
Binance has supported INR deposits and withdrawals through UPI and bank transfer for verified Indian users at various points since its FIU-IND registration. INR on-ramp and off-ramp availability has changed multiple times, so check the Binance app directly for current options. If INR withdrawal is unavailable, Indian users typically convert crypto to USDT and then use a domestic exchange like CoinDCX or ZebPay to cash out in INR.
Your next steps: confirm Binance’s FIU-IND status at fiuindia.gov.in, complete your KYC using our crypto KYC guide, bookmark our upcoming Binance listings tracker for new listing alerts, and read up on TDS rules for Indian crypto users so tax season does not catch you off guard.
This is not financial advice. Data as of July 2026. Regulatory status and tax rules can change. Always verify information directly with official government sources and consult a qualified tax professional. Last updated: July 2026. Reviewed by the CryptoWire editorial team.
