Legal crypto exchanges in India: the FIU-registered list
Crypto is not banned in India and not licensed either. What the law requires is that exchanges and other crypto (VDA) service providers register with the Financial Intelligence Unit, FIU-IND, and follow anti-money-laundering rules. FIU-IND publishes no register; the only official list is the one the Finance Ministry tabled in the Lok Sabha on 30 March 2026: 54 registered providers as on 9 Mar 2026, 7 of them based abroad. 68 platforms have been ordered blocked.
Checked 11 Nov 2026 · To the best of our knowledge · Registration is AML registration, not a licence or endorsement · Information, not advice · Report an error
All 54 FIU-registered crypto service providers
Annexure I to Lok Sabha Unstarred Question 5805, answered 30 March 2026, as on 9 Mar 2026. The list has no registration dates. 9 entries are marked not operational or wound up, 3 conditionally on-boarded. Official counts: 31 (28 Dec 2023) → 49 (31 Mar 2025) → 50 (1 Oct 2025) → 54 (9 Mar 2026). sansad.in ↗
| # | Exchange / brand | Legal entity | Based in | Status |
|---|---|---|---|---|
| 1 | CoinDCX | Neblio Technologies Pvt Ltd | India | Registered |
| 2 | ANQ Finance | ANQ Digital Finserv Pvt Ltd | India | Registered |
| 3 | Unocoin | Unocoin Technologies Pvt Ltd | India | Registered |
| 4 | Onramp | Buyhatke Internet Pvt Ltd | India | Registered |
| 5 | Giottus | Giottus Technologies Pvt Ltd | India | Registered |
| 6 | Bitbns | Bitbns Internet Pvt Ltd | India | Registered |
| 7 | ZebPay | Awlencan Innovations India Ltd | India | Registered |
| 8 | WazirX | Zanmai Labs Pvt Ltd | India | Registered |
| 9 | CoinSwitch | Bitcipher Labs LLP | India | Registered |
| 10 | CoinSwitchX | Nextgendev Solutions Pvt Ltd | India | Registered |
| 11 | Mudrex | RPFAS Technologies Pvt Ltd | India | Registered |
| 12 | BuyUcoin | IBLOCK Technologies Pvt Ltd | India | Registered |
| 13 | Coindhan | WOLLFISH Labs Pvt Ltd | India | Registered, not operational |
| 14 | Rario | Rario Digital Pvt Ltd · linked to Digital Collectibles Pte Ltd | India | Registered |
| 15 | SunCrypto | Angelic Infotech Pvt Ltd | India | Registered |
| 16 | Carret | Carretx Technologies Pvt Ltd | India | Registered |
| 17 | — | Ante Multimedia Pvt Ltd | India | Registered, not operational |
| 18 | Onmeta | ABHIBHA Technologies Pvt Ltd | India | Registered |
| 19 | Cryptosmartlife | Smartliving Digital Technologies Pvt Ltd | India | Registered, not operational |
| 20 | Pyor | UCY Technology Pvt Ltd | India | Registered |
| 21 | Rario | Digital Collectibles Pte Ltd | Singapore | Registered |
| 22 | Valr | Veeratva Technologies Pvt Ltd | India | Registered, not operational |
| 23 | Transak | Transak Technology India Pvt Ltd | India | Registered, not operational |
| 24 | Getbit | REMIZO Technologies India Pvt Ltd | India | Registered |
| 25 | Bytex | FIN GENIE Tech Pvt Ltd | India | Registered, not operational |
| 26 | — | ARDOUR Labs Pvt Ltd | India | Registered |
| 27 | Inocyx | Inocyx Technologies Pvt Ltd | India | Registered |
| 28 | Fanztar | Metatoken Technologies Pvt Ltd | India | Registered |
| 29 | Delta Exchange | Excelium Technologies Pvt Ltd | India | Registered |
| 30 | — | Rovi91 Innovations Pvt Ltd | India | Registered, not operational |
| 31 | Bitbse.com | Longreen India Pvt Ltd | India | Registered |
| 32 | Flitpay | Flitpay Pvt Ltd | India | Registered |
| 33 | Stable Pay | Fincrypt LLP | India | Registered |
| 34 | ArthBit | Arthbit Pvt Ltd | India | Registered |
| 35 | Density Exchange | Pagarpay India Pvt Ltd | India | Registered, not operational |
| 36 | pi42 | Lightningnodes Technologies Pvt Ltd | India | Registered |
| 37 | KoinBX | Kooz Advisors and Technologies Pvt Ltd | India | Registered |
| 38 | — | Mindless Pandora Tech Solutions Pvt Ltd | India | Registered |
| 39 | — | FanCraze Technologies Inc. | Delaware, USA | Registered |
| 40 | BIT24HR | SUBHX INFOTECH (OPC) Pvt Ltd | India | Registered |
| 41 | KuCoin | Peken Global Limited | Seychelles | Registered |
| 42 | Alpyne | ALSD Technologies Pvt Ltd | India | Registered |
| 43 | Square | Damsol Pvt Ltd | India | Registered, not operational |
| 44 | Liminal | First Answer India Technologies Pvt Ltd | India | Registered |
| 45 | Eclipton | Eclipton Technologies Pvt Ltd · linked to Blockoville OU | India | Registered |
| 46 | Blockoville | Blockoville OU | Estonia | Registered |
| 47 | Binance | Nest Services Limited (earlier Binance International Limited) | Seychelles | Registered |
| 48 | Bybit | Bybit Fintech Limited | Seychelles | Registered |
| 49 | Coinbase | Coinbase India Pvt Ltd · linked to global Coinbase | India | Registered |
| 50 | eXchange1 | UAB "Web 3 Utility Platform" | Lithuania | Registered |
| 51 | eXchange1.India | UAB Web 3 Utility IT Services India Pvt Ltd · linked to row 50 | India | Registered |
| 52 | PLATINX | Eopsin Tech Pvt Ltd | India | Conditionally on-boarded |
| 53 | Parracrypto | PARAACRYPTO TECHNOLOGY Pvt Ltd | India | Conditionally on-boarded |
| 54 | BitDelta | Durva Fintech Pvt Ltd | India | Conditionally on-boarded |
Coinbase India is on the list, but FIU-IND’s order of 6 March 2025 says Coinbase ceased operations in India; its status is unclear.
Blocked and fined crypto exchanges
FIU-IND directs the blocking of apps and websites of platforms that serve Indian users without registering (s.13 PMLA with s.79(3)(b) IT Act). Binance, KuCoin, Bybit, Coinbase were on the list and registered later.
Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, Bitfinex, OKX, P2PX, CoinpayX, Bybit, Bitget, Bitmart, Bitgo, Coinbase, Gemini, Noones, Baazcoin, Crypto.com, MoonPay, Mercuryo, Neteller, Skrill, Onlychain, P2p.me, Huione, BC.Game, Paxful, Changelly, CEX.IO, LBank, YouHodler, BingX, PrimeXBT, BTCC, CoinEx, Remitano, Poloniex, BitMEX, Bitrue, LCX, ProBit Global, BTSE, HitBTC, LocalCoinSwap, AscendEx, Phemex, Zoomex, CoinCola, CoinW, Beldex sansad.in ↗
Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, Guardarian newsonair.gov.in ↗
Source: Finance Ministry press release of 9 Sep 2026 as reported by All India Radio; pib.gov.in could not be loaded.
Struck through: registered later. Not registered as on 9 Mar 2026: 64 of 68.
| FIU-IND penalty order | Date | Penalty | Source |
|---|---|---|---|
| KuCoin (Peken Global Ltd) | 22 Mar 2024 | Rs 34.5 lakh | fiuindia.gov.in ↗ |
| Binance | 19 Jun 2024 | Rs 18.82 crore | fiuindia.gov.in ↗ |
| Bybit (Bybit Fintech Ltd) | 31 Jan 2025 | Rs 9.27 crore | fiuindia.gov.in ↗ |
| Coinbase India Pvt Ltd | 6 Mar 2025 | Warning, no fine; the order says Coinbase ceased operations in India | fiuindia.gov.in ↗ |
What is allowed with crypto in India
Not banned and not licensed. The government calls crypto “unregulated”; it is not legal tender, but it is taxed and exchanges fall under anti-money-laundering law. coinswitch.co ↗
Allowed. The Supreme Court set aside RBI’s 2018 banking ban on 4 March 2020; in 2021 RBI told banks to apply normal KYC and AML checks instead. api.sci.gov.in ↗
Allowed. Registration means the exchange reports to FIU-IND and runs KYC; it is not a licence or government endorsement. sansad.in ↗
Grey. FIU-IND has ordered 68 platforms’ apps and websites blocked. No rule was found that punishes the user, but income stays taxable and access can stop at any time. sansad.in ↗
Not banned; 1% TDS and 30% tax apply. Several P2P platforms (Paxful, Noones, LocalCoinSwap, P2PX, P2p.me) are on the block list. sansad.in ↗
Not prohibited. Since January 2026 exchanges must apply extra checks to transfers to and from private wallets. sansad.in ↗
No specific rule. No RBI, SEBI or FIU text covers them; the providers are VDA service providers under AML law. coinswitch.co ↗
Grey. LRS allows up to USD 250,000 per financial year for permitted transactions; the RBI FAQ does not mention crypto, but bars margin payments to overseas exchanges and forex trading abroad. rbi.org.in ↗
Registered exchanges may not facilitate them under the FIU guidelines of January 2026. sansad.in ↗
Not legal tender. A payment in crypto counts as a transfer, so 30% tax and 1% TDS apply. coinswitch.co ↗
How a crypto exchange registers with FIU-IND
Five activities make a business a “reporting entity” under the PMLA (since 7 March 2023): exchanging crypto for money, crypto for crypto, transferring it, keeping it in custody, and services around token issues. It applies to foreign platforms serving Indian users too. Under FIU-IND’s circular of 15 September 2025 an applicant needs an in-person meeting with its Designated Director and Principal Officer, tax and company filings, all B2B agreements, a cyber-security audit by a CERT-In-empanelled auditor and a live demonstration of its KYC, transaction-monitoring, blockchain-analytics and Travel Rule tools; registration follows in-principle approval by the Director. fiuindia.gov.in ↗
Tokenized assets for Indian residents
Pilot since 10 September 2026: bonds issued as tokens on a permissioned ledger run by the depositories, settled in wholesale e₹. They remain securities with the same ISIN. Stage I is for institutions; retail access is planned for Stage II. sebi.gov.in ↗
RBI’s Unified Markets Interface pilot, announced 8 October 2025. Wholesale only. rbi.org.in ↗
Consultation paper on tokenizing real-world assets, 26 February 2025, with a sandbox approach. No final rule; IFSCA says it does not intend to permit trading in crypto. ifsca.gov.in ↗
Regulated by SEBI, minimum unit Rs 10 lakh, traded via stock exchanges. Fractional, but not tokenized. sebi.gov.in ↗
No Indian rule addresses them. Such tokens likely count as virtual digital assets for tax, but no official source confirms this, and LRS rules do not mention them. rbi.org.in ↗
Stablecoins and tax
Stablecoins have no separate regime and are treated like other crypto. The Reserve Bank opposes them: its Deputy Governor said in December 2025 that UPI and a central-bank digital currency serve India better. rbi.org.in ↗ Tax: 30% on gains plus cess, no deductions except cost, losses cannot be offset or carried forward, and 1% TDS on transfers; gains are reported in Schedule VDA. Full tax page for India →
Questions
Is crypto legal in India?
Crypto is not banned in India, but it is not licensed either: the government describes it as “unregulated”. Gains are taxed at 30% plus cess with 1% TDS, and exchanges must register with FIU-IND under the anti-money-laundering law (PMLA). The Supreme Court struck down RBI’s 2018 banking ban in March 2020.
Which crypto exchanges are registered with FIU-IND?
54 providers were registered as on 9 Mar 2026, according to the list the Finance Ministry tabled in the Lok Sabha on 30 March 2026, among them CoinDCX, ZebPay, WazirX, CoinSwitch, Mudrex, Unocoin, Giottus, Binance, KuCoin, Bybit. 9 of them are marked not operational. FIU-IND itself publishes no register.
Is Binance legal in India?
Binance (Nest Services Limited) is on the FIU-IND list of registered providers as on 9 March 2026. FIU-IND fined it Rs 18.82 crore in June 2024 for operating without registration; Binance resumed services in India in August 2024. Registration is AML registration, not a licence.
Which crypto exchanges are blocked in India?
FIU-IND has ordered the apps and websites of 68 platforms blocked: 53 named in Parliament on 30 March 2026 (including Kraken, OKX, Bitget, MEXC, Gate.io, Crypto.com, Bitfinex, Huobi) and 15 more on 9 September 2026 (including WhiteBIT, Pionex, XT.com, ChangeNow). Binance, KuCoin, Bybit and Coinbase were on the first list but registered later.
Does FIU-IND publish a list of registered crypto exchanges?
No. FIU-IND told Parliament that a public list could give the impression that registered entities are licensed or endorsed by the government. The only official list is Annexure I to Lok Sabha Unstarred Question 5805, answered on 30 March 2026.
Can Indians buy tokenized stocks or treasuries?
No Indian rule specifically covers tokenized US stocks, ETFs or treasuries sold on crypto platforms. Regulated tokenization in India is still at pilot stage: SEBI’s tokenized corporate bond pilot (September 2026, institutions first) and RBI’s tokenized certificate-of-deposit pilot.
Not confirmed: the current status of Coinbase India; whether tokenized US stocks or treasuries count as virtual digital assets for tax; section numbers under the Income-tax Act 2025 (incometaxindia.gov.in could not be loaded); the full text of FIU-IND’s guidelines of 8 January 2026 (details from law-firm summaries).
Registered names on the list: 49 of 54 have a brand name; the rest are listed by legal entity only. More on India: market page · tax.
Compiled to the best of our knowledge from the official sources linked on this page. Information, not investment, legal or tax advice. Registration with FIU-IND does not mean a platform is safe or suitable.
Found an error, a missing exchange or something out of date? Tell us at [email protected] — we check every report and correct the page.