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South Asia

India

Regulation by tax and AML: crypto is legal, heavily taxed and FIU-registered, but India still has no licensing law.

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Licences

What it takes to operate in India: one licence, who issues each, what it covers and who holds one.

FIU-IND Reporting Entity registration for VDA service providers

FIU-IND · Prevention of Money-laundering Act, 2002; Notification S.O. 1072(E) of 7 March 2023

Exchange between VDAs and fiat, exchange between VDAs, transfer, safekeeping or administration of VDAs, and financial services for token offerings, whether onshore or offshore.

What it takes
  • Registration with FIU-IND before serving Indian users, including offshore platforms
  • Designated director and principal officer appointed for AML compliance
  • KYC and customer due diligence, record-keeping and travel rule compliance
  • Suspicious and cash transaction reporting to FIU-IND
  • No capital, custody or conduct licensing; tax deduction and crypto-asset reporting under the Income-tax Act apply separately

Holders include

54holders, 9 Mar 2026

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