Crypto Oversight Strengthens in India as 49 Exchanges Register With FIU

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.

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.

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