FIU-Registered Crypto Exchanges in India: Full List and How to Verify (2026)

Quick Answer: As of mid-2026, 54 Virtual Digital Asset Service Providers (VDASPs) are registered with India’s Financial Intelligence Unit (FIU-IND) under PMLA. Major FIU registered crypto exchanges in India include WazirX, CoinDCX, ZebPay, CoinSwitch, Mudrex, and Binance. Verify any platform at fiuindia.gov.in under Reporting Entities.

As of mid-2026, 54 Virtual Digital Asset Service Providers (VDASPs) are registered with India’s Financial Intelligence Unit (FIU-IND) under the Prevention of Money Laundering Act (PMLA). These include major Indian platforms like WazirX, CoinDCX, ZebPay, and Mudrex, plus several international exchanges that have obtained FIU registration to legally serve Indian users. You can verify any platform directly on fiuindia.gov.in.

• 54 crypto exchanges and VDASPs are currently FIU-IND registered, per the official FIU-IND Reporting Entities Registry (July 2026).
• 53 offshore platforms received blocking orders from India’s Ministry of Electronics and Information Technology (MeitY) for operating without FIU registration, per MeitY official communications (2023-2024).
• Using an unregistered offshore exchange is not automatically illegal for Indian users, but it carries serious tax and legal risks.
• FIU registration means a platform follows KYC and anti-money-laundering rules. It does not mean your funds are insured or protected.
• All crypto gains in India attract 30% VDA tax and 1% TDS regardless of which exchange you use.

What FIU-IND Registration Means Under PMLA

The Finance Ministry brought crypto exchanges under the PMLA framework in March 2023. That notification made it mandatory for any entity offering crypto trading, transfer, custody, or exchange services to Indian users to register as a Reporting Entity with FIU-IND.

FIU-IND, the Financial Intelligence Unit of India, sits under the Finance Ministry and tracks financial transactions for money laundering and terror financing risks. Once a crypto platform registers, it must collect full KYC on users, monitor suspicious transactions, and file Suspicious Transaction Reports (STRs) with FIU. This is the same framework that banks and payment gateways already follow.

If a platform skips registration, FIU-IND can direct MeitY to block its URLs and apps in India. That is exactly what happened to 53 offshore platforms in late 2023 and early 2024, including the international version of Binance, Kraken, Bitfinex, and others. Binance later obtained FIU registration in 2024 and had its app unblocked, making it one of the few offshore exchanges that is now a FIU registered crypto exchange in India.

Full List of FIU Registered Crypto Exchanges in India and How to Verify

The government confirmed in a Parliament reply that 54 VDASPs are registered with FIU-IND as of the latest available data. The list of FIU registered crypto exchanges in India includes a mix of Indian-origin exchanges and international platforms that chose to comply with Indian regulations.

Key FIU-Registered Platforms (Selected)

Source: FIU-IND Reporting Entities Registry, accessed July 2026. This is a partial list. Always verify current status on fiuindia.gov.in.

How to Verify FIU Registration of Any Crypto Exchange

The full official list of FIU registered crypto exchanges in India is published on the FIU-IND website. To check any platform, visit fiuindia.gov.in, navigate to the Reporting Entities section, and search under the VDASP category. If a platform is not listed there, it is not compliant with Indian PMLA rules.

How to Complete KYC on a Registered Exchange

Every FIU registered crypto exchange in India is required to run full KYC before you can trade. That means PAN card verification, Aadhaar-linked mobile OTP, and sometimes a video KYC step. Our guide on how to complete crypto KYC in India walks you through the exact steps on major Indian platforms.

Skipping KYC is not an option on registered platforms. If an exchange lets you trade large amounts without any identity check, that is a red flag and possibly a sign you are on an unregistered or fraudulent platform.

Offshore Exchanges: Blocks, Risks, and Tax Exposure

India’s MeitY blocked 53 offshore crypto platforms between December 2023 and early 2024 for non-compliance with PMLA registration rules, per official MeitY communications. The blocked list included Binance (international), Kraken, Bitfinex, Bybit, OKX, and KuCoin, among others. Some, like Binance, subsequently registered with FIU-IND and got unblocked. Others remain inaccessible through Indian app stores and ISPs.

Is It Illegal to Use an Offshore Exchange in India?

This is the question most Indian users ask. The honest answer is: it is a legal grey area, but the risks are real. There is no specific law that criminalises an Indian individual for accessing a blocked exchange using a VPN. But using such platforms creates serious practical problems.

Any crypto gains you make, anywhere in the world, are taxable in India at 30% flat VDA tax with no deductions for losses from other assets. The 1% TDS that registered Indian exchanges deduct and deposit on your behalf will not happen on an offshore platform, which means you are personally responsible for self-declaring and paying it. Failure to do so can attract penalties under the Income Tax Act.

Unregistered offshore platforms also carry higher scam risk. They are not required to follow Indian KYC rules, which means less accountability if something goes wrong. Fraudulent platforms often mimic legitimate exchanges, and without FIU oversight, there is no reporting mechanism to flag suspicious activity. If you are unsure whether an airdrop or offer on such a platform is genuine, read our piece on how to spot a fake crypto airdrop before connecting your wallet.

Wallet Risks Are Separate From Exchange Risks

Even if you move assets off an exchange to a self-custody wallet, risks do not disappear. Wallet drainer malware and phishing attacks have cost Indian users crores in losses. Our detailed explainer on wallet drainer scams covers exactly how these attacks work and how to protect yourself.

What FIU Registration Does and Does Not Guarantee

FIU registration is a compliance milestone, not a safety certificate. It tells you that the exchange has met India’s anti-money-laundering requirements, runs KYC, and files regulatory reports. That is genuinely important. It reduces the risk of your account being used for fraud without your knowledge, and it means the platform is accountable to Indian authorities.

What it does not guarantee is the safety of your funds. India has no equivalent of the US FDIC for crypto. There is no deposit insurance scheme for VDASPs. The WazirX hack of July 2024, in which approximately $230 million worth of assets were stolen according to blockchain analytics firm Elliptic’s post-incident report, happened on an FIU registered crypto exchange in India. Registration did not prevent the breach or automatically compensate users.

SEBI has been studying a potential regulatory framework for crypto exchanges that could include stricter operational standards, but as of mid-2026, no such framework has been finalised. RBI continues to maintain a cautious stance, and crypto remains outside the formal banking protection net.

The practical takeaway: use FIU registered crypto exchanges in India because the compliance layer reduces certain risks. But do not keep large amounts on any exchange for longer than necessary. Hardware wallets and cold storage remain the safest options for significant holdings, provided you understand the self-custody risks involved.

Frequently Asked Questions

What is FIU-IND and why does it matter for crypto?

FIU-IND is India’s Financial Intelligence Unit, operating under the Finance Ministry. Since March 2023, it has been the regulatory body that crypto exchanges must register with under the PMLA. Registration means an exchange must run KYC on users, monitor transactions, and report suspicious activity. It is the first real compliance layer India has applied to crypto platforms.

How many crypto exchanges are FIU-registered in India?

As of mid-2026, 54 VDASPs are registered with FIU-IND as FIU registered crypto exchanges in India, according to a Parliament reply and the official FIU-IND registry. This includes Indian platforms like CoinDCX, WazirX, ZebPay, CoinSwitch, and Mudrex, as well as some international exchanges like Binance that obtained registration after initially being blocked.

Is it illegal to use an offshore crypto exchange in India?

There is no specific law that makes it a criminal offence for an individual to access a blocked offshore exchange. However, it creates serious tax compliance risks. You are still liable for 30% VDA tax and 1% TDS on all gains, and you will need to self-report since offshore platforms will not deduct TDS on your behalf. Tax evasion on these gains can attract penalties under the Income Tax Act.

Does FIU registration mean my funds are safe on an exchange?

No. FIU registration means the exchange follows anti-money-laundering and KYC rules. It does not mean your funds are insured or protected from hacks. India has no crypto deposit insurance scheme. The WazirX hack of July 2024, where roughly $230 million was stolen from an FIU registered crypto exchange in India per Elliptic’s analysis, is a clear reminder that registration and fund safety are two separate things entirely.

How do I verify if a crypto exchange is FIU-registered in India?

Visit fiuindia.gov.in, go to the Reporting Entities section, and filter by the VDASP category. Any platform that does not appear on that list is not a compliant FIU registered crypto exchange in India. Always check this before depositing funds on any platform.

This is not financial advice. Data as of July 2026. Last updated: July 2026. Reviewed by the CryptoWire editorial team.