Every crypto exchange serving Indian users must register with the Financial Intelligence Unit (FIU-IND) under the Prevention of Money Laundering Act. It is the first thing to check before you deposit a rupee. Here is the status of the exchanges we review, and how to check any other.
Registered with FIU-IND as a reporting entity; no FIU penalty found.
Read our full CoinDCX review · Official site: coindcx.com
Registered with FIU-IND; ISO 27001 certified; no FIU penalty found.
Read our full CoinSwitch review · Official site: coinswitch.co
Registered with FIU-IND; no FIU penalty found.
Read our full WazirX review · Official site: wazirx.com
Registered with FIU-IND; no FIU penalty found.
Read our full ZebPay review · Official site: zebpay.com
Registered with FIU-IND; ISO 27001 and SOC 2 Type 2; no FIU penalty found.
Read our full Mudrex review · Official site: mudrex.com
Registered with FIU-IND according to the company, operating through Excelium Technologies Pvt Ltd.
Read our full Delta Exchange review · Official site: www.delta.exchange
Registered with FIU-IND in 2024 after an ₹18.82 crore penalty for operating without registration.
Read our full Binance review · Official site: www.binance.com
| App | FIU-IND registration | INR deposits |
|---|---|---|
| CoinDCX | Yes, registered with FIU-IND as a reporting entity; no FIU penalty found | UPI, bank |
| CoinSwitch | Yes, registered with FIU-IND; ISO 27001 certified; no FIU penalty found | UPI, bank |
| WazirX | Yes, registered with FIU-IND; no FIU penalty found | UPI, bank |
| ZebPay | Yes, registered with FIU-IND; no FIU penalty found | UPI, bank |
| Mudrex | Yes, registered with FIU-IND; ISO 27001 and SOC 2 Type 2; no FIU penalty found | UPI, bank (free) |
| Delta Exchange | Yes, registered with FIU-IND (per the company); no FIU penalty found | Bank (free) |
| Binance | Yes, registered with FIU-IND in 2024 after an ₹18.82 crore penalty | P2P only |
Fees and features change often. Checked 24 Sep 2026; confirm on the exchange before you trade.
Since March 2023, crypto (“virtual digital asset”) service providers have been reporting entities under the PMLA. Registration means the exchange verifies customers (KYC), keeps records and reports suspicious transactions to FIU-IND. It does not mean the exchange is regulated like a bank or broker: crypto is not regulated by SEBI or the RBI as an investment, and there is no deposit insurance or investor-protection fund.
In December 2023 FIU-IND issued notices to nine offshore exchanges, including Binance and KuCoin, for serving Indians without registering, and their websites were blocked in January 2024. Binance and KuCoin later registered and paid penalties; OKX, which never registered, stopped serving India in 2024. Enforcement has continued since, 25 more offshore platforms were ordered blocked in October 2025 and 15 more apps in September 2026. An unregistered app can disappear from the app store overnight, with your money still inside it.
Registration is the minimum, not a recommendation. Compare fees, security records and tax handling in best crypto apps in India.
Of the exchanges we review, CoinDCX, CoinSwitch, WazirX, ZebPay, Mudrex, Delta Exchange (per the company) and Binance are registered. KuCoin and Bybit are also FIU-registered offshore exchanges. Always confirm on fiuindia.gov.in.
Yes. Binance registered with FIU-IND in May 2024 and paid an ₹18.82 crore penalty for operating without registration earlier.
The registration duty is on the exchange, but using an unregistered platform is risky: it can be blocked without notice, you have little recourse, and your tax reporting becomes harder.
No. It is an anti-money-laundering requirement, not investor protection. Registered exchanges can still be hacked, as WazirX (2024) and CoinDCX (2025) were.
