FIU Flags 15 Offshore Crypto Exchanges: Full List
India's FIU has named 15 offshore crypto platforms for breaking anti-money laundering rules and asked for their apps and websites to be blocked.
India's Financial Intelligence Unit (FIU-IND) has taken action against 15 offshore crypto platforms that serve Indian users without following the country's anti-money laundering rules. In notices issued in September 2026, the regulator named the platforms and asked for their apps and websites to be blocked in India. If you use any of them, now is the time to plan your exit.
Key takeaways
- FIU-IND issued non-compliance notices to 15 offshore crypto platforms under Section 13 of the Prevention of Money Laundering Act (PMLA).
- It asked for their apps and websites to be blocked in India, using the IT Act's rules for online platforms.
- The list includes exchanges such as WhiteBIT, Pionex, XT.com and WOO X, and swap services such as ChangeNOW and SimpleSwap.
- Any crypto platform serving Indian users must register with FIU-IND, even if it has no office in India.
- Users should move funds to a registered platform or a wallet they control.
The 15 platforms named
- Weex
- Blofin
- RezorEx
- Bitunix
- DigiFinex
- Toobit
- XT.com
- Latoken
- WOO X
- Pionex
- ChangeNOW
- SimpleSwap
- FixedFloat
- WhiteBIT
- Guardarian
Why FIU-IND acted
Since March 2023, crypto businesses that serve Indian users have been "reporting entities" under the PMLA. That means they must register with FIU-IND, check customers' identity (KYC), keep records and report suspicious transactions. The rule applies to offshore firms too. Not having an office in India is no excuse if the platform takes Indian customers.
FIU-IND said these 15 platforms were operating in India without meeting those duties. Under Section 13 of the PMLA it can issue notices and impose penalties. It asked for public access to the platforms' apps and websites to be blocked under Section 79(3)(b) of the Information Technology Act, 2000.
This has happened before
India took similar action in December 2023, when FIU-IND issued notices to nine large offshore exchanges, including Binance and KuCoin, and their apps were later pulled from Indian app stores. Some of them then registered with FIU-IND and paid penalties before returning, with Binance fined ₹18.82 crore in 2024. That history suggests some of the 15 platforms may choose to register rather than leave India.
What you should do if you use one of these platforms
- Withdraw your funds to a wallet you control or to an FIU-registered Indian exchange while you still can. Once an app is blocked, access can become harder.
- Download your trade history for tax records. You still owe 30% tax on gains, and you must report every transfer in Schedule VDA of your return.
- Do not use VPNs to get around a block. It can create problems with KYC, withdrawals and tax records.
- Check registration before signing up anywhere. Our list of registered crypto exchanges in India explains how, and our guide to legal crypto apps in India compares the options.
Offshore platforms often do not deduct India's 1% TDS, which leaves you responsible for paying it. Our crypto tax calculator helps you work out what you owe, and our exchange comparison lists platforms that operate in line with Indian rules.
The action comes as oversight tightens on several fronts. Since April 2026, exchanges must report users' trades to the Income Tax Department, and Parliament's finance committee is finishing its review of crypto policy.
FAQ
Is crypto banned in India?
No. Buying, selling and holding crypto is legal in India. But platforms that serve Indian users must register with FIU-IND and follow anti-money laundering rules.
Will I lose my money on a blocked exchange?
A block limits access to the app and website, but it does not seize your funds. The safest step is to withdraw them soon to a registered platform or your own wallet.
How do I know if an exchange is registered?
FIU-IND publishes a list of registered virtual digital asset service providers. Check it, or see our guide to registered exchanges, before depositing money.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
