India Tightens Crypto Oversight — 49 Exchanges Now Registered with FIU in FY 2024–25

India’s crypto market is stepping into a new era of regulatory maturity.
According to data released by the Financial Intelligence Unit (FIU-IND), a total of 49 cryptocurrency exchanges have now officially registered under India’s anti-money laundering (AML) and compliance framework for the fiscal year 2024–25.

The registrations include 45 India-based platforms and 4 offshore exchanges, signaling stronger alignment between the digital asset industry and Indian financial law enforcement.

What This Means for India’s Crypto Sector

The FIU, operating under the Ministry of Finance, is responsible for monitoring and ensuring that crypto exchanges comply with anti-money laundering (AML) and counter-terrorist financing (CFT) obligations.
This registration milestone confirms that a growing number of exchanges are adapting to India’s compliance-first approach to crypto regulation.

“India’s crypto space is evolving rapidly — this registration drive is a sign that the industry is maturing under regulatory scrutiny,” said a senior crypto compliance analyst.

However, the FIU also noted that ₹28 crore in penalties were imposed on non-compliant platforms during the same period — a clear signal that authorities are enforcing strict standards for AML reporting and user verification.

Compliance Becoming a Prerequisite for Growth

The rise in FIU registrations comes amid increased global pressure for transparency in digital finance and a push by Indian regulators to balance innovation with investor protection.

The FIU has been encouraging both domestic and offshore exchanges to register under India’s Prevention of Money Laundering Act (PMLA), ensuring all transactions are monitored for suspicious activity.

“Compliance is no longer optional — it’s the foundation for trust in India’s digital asset ecosystem,” said a representative from a leading Indian exchange.

India’s Broader Regulatory Direction

India’s crypto industry has faced a complex regulatory path — from tax uncertainty to evolving KYC frameworks — but this development highlights a turning point toward legitimacy and structured growth.

With the G20 presidency, India has been vocal about setting global crypto policy standards, advocating for international cooperation on anti-fraud and risk management frameworks.

This new FIU milestone complements ongoing discussions on Digital Rupee (CBDC) expansion and potential crypto tax reform in the coming fiscal year.

Outlook: Regulated, Transparent, and Ready for Growth

With 49 registered exchanges and growing compliance awareness, India is setting a precedent for regulated crypto innovation.
This structured approach could attract institutional investors, enhance consumer trust, and position India as a key player in global digital finance.

Crypto in India isn’t slowing down — it’s growing up.