FIU India Registers 49 Crypto Exchanges in FY 2024–25
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India’s Financial Intelligence Unit (FIU) has revealed that 49 cryptocurrency exchanges completed registration under the country’s anti-money laundering framework for the fiscal year 2024-25. This development represents a significant step in strengthening regulatory oversight of the country’s expanding digital asset sector. India’s FIU Says 49 Crypto Firms Now Meet AML Standards for FY24–25 According to the FIU’s latest annual report, most of the registered platforms are domestic, with 45 exchanges operating within India. The remaining four are offshore platforms registered with the FIU as reporting entities. This enables them to continue serving Indian users under the country’s compliance framework. Sponsored Sponsored 49 crypto exchanges are already FIU registered, and 100s more that are not. The crypto market in India is far more competitive than most people think. IMO, Healthy competition is good for the ecosystem as it promotes innovation💪 https://t.co/5BAS86eBEh — Sumit Gupta (CoinDCX) (@smtgpt) January 6, 2026 In India, cryptocurrencies are legally classified as Virtual Digital Assets (VDAs). Furthermore, the framework designates platforms facilitating their trading as VDA Service Providers (VDA SPs). In 2023, the regulators formally brought these entities under the Prevention of Money Laundering Act (PMLA). As reporting entities, the FIU requires VDA SPs to submit Suspicious Transaction Reports (STRs). Their obligations also include identifying and reporting beneficial ownership of wallets, monitoring fundraising activities such as initial coin offerings or token offerings, and tracking transfers between hosted and unhosted wallets. In the report, the FIU stated that its strategic analysis of STRs highlighted persistent risks across the cryptocurrency ecosystem. While acknowledging the sector’s potential for financial innovation and wealth creation, the agency warned that digital assets were exploited for serious criminal activity. Identified red flags included the use of crypto for hawala operations, illegal gambling, and complex fraud schemes. “However, VDAs, VDA SPs have certain potential money…
Filed under: News - @ January 6, 2026 2:24 pm