How to check if a crypto exchange is FIU-registered
Every crypto platform serving Indian users must register with FIU-IND. What registration means, why it matters, and how to check an exchange first.
- Checked against the rules: Jul 2026
- Sources cited · No buy or sell calls
"Is this exchange registered?" is one of the first questions to ask before you send money to any crypto platform. Here is what registration means and how to check it.
What is FIU-IND?
The Financial Intelligence Unit – India is the government agency that receives and analyses financial transaction reports to fight money laundering and terror financing. In March 2023, the government brought "virtual digital asset service providers" under the Prevention of Money Laundering Act, making them reporting entities that must register with FIU-IND.
What registration requires
A registered platform must:
- verify customers' identity (KYC),
- keep records of transactions and identities,
- report suspicious transactions to FIU-IND, and
- follow other anti-money-laundering obligations.
This applies to Indian exchanges and to offshore platforms serving Indian users.
What registration doesn't mean
Registration is not a licence to operate in the way SEBI licenses a stockbroker. It doesn't mean:
- your deposits are insured,
- the exchange's security has been audited, or
- the government will compensate you if the exchange is hacked or fails.
WazirX was registered when it was hacked in 2024. See what WazirX users should know.
Why it still matters
- Legal access. Unregistered offshore exchanges have been issued notices by FIU-IND, and access to their websites and apps has been blocked in India.
- Recourse. A registered platform has a legal presence and obligations here, which helps if there's a dispute.
- Banking. Registered platforms are more likely to keep stable INR deposit and withdrawal rails.
How to check an exchange
- Look for the exchange's disclosure. Registered platforms usually state their FIU-IND registration on their website, in their terms, or in their app's legal section.
- Check FIU-IND's website. FIU-IND has published information on registered reporting entities, including VDA service providers. Search for the platform's legal entity name.
- Match the legal entity. The registered company name should match the entity in your account terms, not just the brand.
- Ask support. A legitimate platform will confirm its registration and legal entity in writing.
- Be wary of "too good" offers. Platforms promising guaranteed returns are a red flag, registered or not.
Beyond registration: other checks
Registration is a minimum. Also look at proof of reserves, security history, INR withdrawal reliability and fees. See how to choose a crypto exchange in India.
Frequently asked questions
Are global exchanges like Binance allowed in India?
Offshore platforms must register with FIU-IND to serve Indians. Some large global exchanges did so after being blocked, paying penalties along the way. Check each platform's current status.
Does registration affect my taxes?
Registered Indian exchanges deduct 1% TDS and report transactions, which helps your records. Your tax rules are the same everywhere. See the crypto tax guide.
What happens to my funds on a blocked exchange?
Blocking affects access in India, not necessarily your funds. Contact the exchange about withdrawals and keep records. Avoid workarounds that breach the platform's terms.
Sources
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