The Indian financial intelligence agency reports that 49 cryptocurrency exchanges have completed registration and 25 non-compliant platforms have been blocked

According to Financefeeds, the latest annual report from the Indian Financial Intelligence Unit (FIU-IND) shows that 49 cryptocurrency exchanges have successfully registered as reporting entities under the anti-money laundering framework, of which 45 are domestic companies and 4 are overseas platforms. The FIU requires all registered exchanges to monitor and report suspicious transactions, identify the actual owners of wallets, and track the flow of funds.

In the fiscal year 2024-25, regulators imposed a total fine of 280 million rupees on non-compliant platforms and blocked 25 unregistered offshore exchanges, including BitMEX, LBank, and Phemex. Meanwhile, five major overseas exchanges, including Binance and Coinbase, have completed registration and continue to serve Indian users. The FIU plans to further strengthen regulation by requiring exchanges to conduct regular risk assessments and sanctions screening, making India one of the markets with the strictest regulations on cryptocurrency asset trading globally.