Is Kraken Legal in India? FIU Block and What It Means
No. Kraken is not FIU-IND registered and is entry 4 on the government's takedown list of 53. What that means for Indian users, your funds and your tax.
No, Kraken is not a legal, compliant exchange for Indian users today. Kraken is not on the government's list of 54 crypto platforms registered with FIU-IND, and it is entry 4 on the list of 53 offshore platforms whose apps and websites FIU-IND directed to be taken down, both tabled in the Lok Sabha on 30 March 2026. Crypto itself is legal in India, and holding coins there is not a crime, but you should not open a new Kraken account from India.
Key takeaways
- Kraken is one of the nine offshore exchanges that FIU-IND served with compliance show-cause notices in December 2023, when it also asked the IT Ministry to block their websites.
- It is not among the 54 VDA service providers registered with FIU-IND as of 9 March 2026, and it is entry 4 on the official takedown list of 53.
- Kraken's own list of prohibited countries, updated on 30 September 2026, does not include India. The barrier comes from Indian law, not from Kraken.
- Kraken does not take rupee deposits; its cash rails cover USD, EUR, CAD, AUD, GBP, CHF, JPY and BRL.
- If you still hold coins there, move them to your own wallet or a registered Indian exchange, and report any gains at 30% plus 4% cess.
Kraken in India at a glance (3 October 2026)
| Question | Answer |
|---|---|
| Who runs Kraken? | Payward, Inc., a US company founded in 2011 and based in San Francisco |
| Registered with FIU-IND? | No. Not on the list of 54 (as of 9 March 2026) |
| On the takedown list? | Yes, entry 4 of 53 |
| First FIU-IND action | Compliance show-cause notice, December 2023 |
| Apps in India | Removed from Apple's App Store in India in January 2024 |
| Website from India | www.kraken.com resolved to the internet provider's block address on an Indian broadband connection on 3 October 2026 |
| Does Kraken itself bar India? | No. India is not on its list of prohibited regions |
| Rupee deposits | Not offered |
| Indian TDS | We found no sign that Kraken deducts Indian TDS |
Is Kraken registered with FIU-IND?
No. Since a Finance Ministry notification of 7 March 2023, every platform that offers crypto exchange, transfer or custody services to people in India must register with the Financial Intelligence Unit-India (FIU-IND) as a reporting entity under the Prevention of Money Laundering Act, wherever it is based. On 30 March 2026 the Minister of State for Finance answered Lok Sabha Unstarred Question No. 5805 with Annexure-I, the 54 VDA service providers registered as of 9 March 2026. Kraken is not on it, under its own name or under Payward.
The same answer includes Annexure-II, the 53 offshore platforms "found to be operating illegally in India" whose applications and URLs FIU-IND directed to be taken down. Kraken is entry 4. Our FIU-registered exchanges page reproduces both official lists. And no crypto exchange holds an RBI licence, whatever an advert may say; see our guide to the "RBI-approved" exchange myth.
Is Kraken banned in India?
The government's word is "takedown", not "ban". In December 2023 FIU-IND issued compliance show-cause notices under the PMLA to nine offshore exchanges that served Indian users without registering: Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex. It also wrote to the Ministry of Electronics and Information Technology asking for their websites and apps to be blocked. In January 2024 Apple removed these exchanges' apps from its App Store in India.
In practice this means three things:
- URL blocking: Indian internet providers point Kraken's web address to a block page. When we checked on 3 October 2026, www.kraken.com resolved to a block address on an Indian broadband connection. Kraken's help centre still loaded.
- App removal: you cannot download Kraken from the Indian App Store, and any "Kraken" app you find elsewhere is a risk.
- No legal cover: Kraken does not report to FIU-IND, so you get none of the KYC, record-keeping and reporting framework that Indian rules require.
What the blocking does not do is make you a criminal. The duty to register sits with Kraken. We know of no rule that makes it an offence for an Indian user to hold coins on Kraken or to withdraw them, and buying, selling and holding crypto remains legal, as our guide on whether crypto is legal in India explains.
Kraken's own position on India
Kraken's support page on where it is licensed lists the regions it does not serve: "We do not serve clients, or permit cash and crypto deposits, from the following regions". The list, updated on 30 September 2026, covers Afghanistan, Belarus, the Crimea, Donetsk and Luhansk regions of Ukraine, Cuba, the Democratic Republic of the Congo, Iran, Iraq, Japan, Libya, North Korea, Russia, Sudan, South Sudan and Syria. India is not on it.
So Kraken has not told Indian users to leave, but it has also not registered in India. We found no announcement from Kraken that it has applied for or received FIU-IND registration. Until its name appears on the official list, treat it as unregistered.
Kraken also has no rupee rails. Its cash deposit page lists USD, EUR, CAD, AUD, GBP, CHF, JPY and BRL, so an Indian user can only fund an account with crypto or a foreign currency. Registered Indian platforms, by contrast, take UPI, IMPS and NEFT and deduct TDS for you.
What happened to the other eight from December 2023
The nine exchanges that got notices in December 2023 have taken different paths. Two paid penalties and registered; the rest, including Kraken, are still unregistered.
| Exchange | Takedown list entry | Registered by 9 March 2026? |
|---|---|---|
| Binance | 1 | Yes, entry 47, after an ₹18.82 crore penalty |
| KuCoin | 2 | Yes, entry 41, after a ₹34.5 lakh penalty |
| Huobi | 3 | No |
| Kraken | 4 | No |
| Gate.io | 5 | No |
| Bittrex | 6 | No |
| Bitstamp | 7 | No |
| MEXC Global | 8 | No |
| Bitfinex | 9 | No |
Binance and KuCoin now appear in both annexures: on the takedown list for the original action and on the registered list after they complied. Our guides on Binance and KuCoin explain those cases. Gate.io, from the same batch, has gone further than Kraken and now lists India as a restricted location; see is Gate.io legal in India. FIU-IND added 25 more names in October 2025 and acted against 15 more in September 2026, covered in our report on FIU-IND's action against 15 offshore exchanges.
What this means for you
- Do not open a new Kraken account from India. It is unregistered, its website and app are blocked, and you would have no Indian route for complaints.
- Existing coins are still yours. A block limits access; it does not seize your balance.
- Your tax duty does not change. Gains made on Kraken are taxable in India even though Kraken does not report them to you as an Indian platform would.
- If you want a US-headquartered exchange, Coinbase registered in India through Coinbase India Private Limited, entry 49 on the official list; see our Coinbase review.
What to do if you have funds on Kraken
- Withdraw your crypto to a wallet you control or to a registered Indian exchange. Kraken does not list India as a prohibited region, so withdrawals are not barred by Kraken's own rules. Our guide to moving crypto between exchanges shows how to pick the right network and test with a small amount.
- If you cannot get in, contact Kraken support through its help centre from your registered email, give your account details and keep every reply.
- Do not use a VPN to get round the Indian block. Faking your location can trigger account reviews and freezes at any exchange, and it does not make the platform compliant.
- Watch for fake apps and "recovery" services. With the real app gone from Indian stores, clones are common; read our guide to downloading crypto apps safely.
- Sell for rupees on a registered platform and follow our guide to withdrawing crypto to your bank account. Avoid P2P sales to strangers.
For the worst case, read what happens to your crypto if an exchange shuts down.
Tax on Kraken trades
Gains on crypto are taxed at a flat 30% plus 4% cess under the rules introduced as Section 115BBH, wherever you traded. Only the cost of acquisition is deductible, losses cannot be set off or carried forward, and every trade goes in Schedule VDA. Registered Indian platforms deduct 1% TDS on sales; on Kraken that did not happen, so the full tax falls due when you file.
| Example: coins moved from Kraken | Amount |
|---|---|
| Bitcoin bought in 2023 (cost) | ₹2,00,000 |
| Moved to a registered Indian exchange and sold for | ₹3,50,000 |
| TDS deducted by the Indian exchange (1%) | ₹3,500 |
| Tax on the ₹1,50,000 gain at 31.2% | ₹46,800 |
| Left to pay after TDS credit | ₹43,300 |
Keep your Kraken purchase records: without them you cannot prove your cost. Our crypto tax in India guide covers the rest.
How to check any exchange
- Find the legal company name and FIU-IND registration number (starting "VA") in its terms.
- Check the name against the official list of 54 registered providers.
- Check it against the 53 platforms directed for takedown, and FIU-IND's later lists.
- Make sure the app is in the Indian Play Store and App Store and the website opens without a VPN.
- Confirm it asks for your PAN and deducts 1% TDS on sales.
Registered Indian options include Giottus (8.2/10 in our ranking) and Unocoin (6.5/10). The full list is in our best crypto apps in India ranking. Other offshore names on the takedown list include BingX and MEXC.
FAQ
Is Kraken available in India?
Not legally as a compliant service. Kraken is not registered with FIU-IND, its website is blocked by Indian internet providers and its app was removed from Apple's Indian App Store in January 2024.
Is Kraken banned in India?
FIU-IND issued Kraken a show-cause notice in December 2023 and it is entry 4 on the government's list of 53 platforms whose apps and URLs were directed to be taken down. Crypto itself is not banned.
Is Kraken FIU registered?
No. Kraken is not among the 54 VDA service providers registered with FIU-IND as of 9 March 2026, tabled in the Lok Sabha on 30 March 2026.
Is it illegal for me to use Kraken from India?
The legal duty to register falls on Kraken, and we know of no rule that makes holding or withdrawing your own coins an offence. You still owe tax on any gains and have no Indian protection if something goes wrong.
Can I withdraw my crypto from Kraken in India?
Kraken does not list India as a prohibited region, so withdrawals are not barred by its own rules. Send coins to your own wallet or a registered Indian exchange, and contact Kraken support if you cannot get access.
Does Kraken support INR?
No. Kraken's cash deposits cover USD, EUR, CAD, AUD, GBP, CHF, JPY and BRL, not Indian rupees.
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.
