Is MEXC Legal in India? Ban, FIU Status and Your Funds
MEXC is not FIU-registered, is on the government's takedown list and paused Indian trading in February 2026. Here is what that means for your funds.
No, MEXC is not legal to use as a compliant exchange in India. MEXC Global is not on the government's list of 54 crypto platforms registered with FIU-IND, and it is entry 8 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. MEXC itself suspended trading and deposits for users in India from 28 February 2026.
Key takeaways
- MEXC Global was one of nine offshore exchanges FIU-IND acted against in December 2023, and its apps were removed from Indian app stores in January 2024.
- It is not among the 54 VDA service providers registered with FIU-IND as of 9 March 2026, and it is entry 8 on the government's takedown list.
- MEXC paused new Indian sign-ups on 15 January 2026 and suspended trading, deposits and INR services for India from 28 February 2026, saying it was working on FIU-IND registration.
- We found no announcement that MEXC's Indian services had resumed by 3 October 2026, and its website did not load from an Indian connection that day.
- Crypto itself is legal in India. Profits made on MEXC are still taxed at 30% plus 4% cess.
MEXC in India at a glance (3 October 2026)
| Question | Answer |
|---|---|
| Registered with FIU-IND? | No. Not on the list of 54 registered providers (as of 9 March 2026) |
| Named in an FIU-IND action? | Yes. One of nine offshore exchanges in December 2023 |
| On the government's takedown list? | Yes, as "MEXC Global", entry 8 of 53 |
| Indian app stores | Apps removed in January 2024 |
| Website from India | Did not load when we checked from an Indian broadband connection on 3 October 2026; the internet provider redirected it to a block address |
| New sign-ups from India | Paused by MEXC since 15 January 2026 |
| Trading and deposits for India | Suspended by MEXC since 28 February 2026, 00:00 IST |
| INR on-ramp and P2P | INR removed from P2P on 27 February 2026; INR deposits and withdrawals stopped on 28 February |
Is MEXC registered with FIU-IND?
No. Since March 2023, every platform that offers crypto services to people in India has had to register with the Financial Intelligence Unit-India (FIU-IND) as a reporting entity under the Prevention of Money Laundering Act (PMLA). On 30 March 2026 the Minister of State for Finance answered Lok Sabha Unstarred Question No. 5805 with the list of 54 registered VDA service providers as of 9 March 2026. MEXC is not on it.
MEXC has said it is trying to register. In January 2026 it announced that it was suspending Indian services "as part of" its registration process with FIU-IND, and that it would announce any resumption through its official channels. Until MEXC appears as a registered entity, with a registration number starting "VA", treat it as unregistered. Our FIU-registered exchanges list is where we will reflect any change.
Keep in mind what registration would and would not mean. It is an anti-money-laundering registration, not an RBI licence; no RBI licence for crypto exchanges exists, as our page on the "RBI-approved" exchange myth explains. The Lok Sabha answer itself warns that a public list could make people think registered platforms are licensed or endorsed.
Is MEXC banned in India?
MEXC as a platform is blocked; crypto is not. The Lok Sabha answer says FIU-IND directed the takedown of the apps and URLs of 53 offshore platforms "found to be operating illegally in India" without following the PMLA, and lists MEXC Global as entry 8. That entry comes from FIU-IND's first big action: in December 2023 it issued notices under Section 13 of the PMLA to nine offshore exchanges (Binance, KuCoin, Huobi, Kraken, Gate.io, MEXC Global, Bittrex, Bitstamp and Bitfinex) and asked for their websites to be blocked. Their apps disappeared from Indian app stores in January 2024.
MEXC was not named again in FIU-IND's October 2025 action against 25 platforms or its September 2026 action against 15, which we covered in FIU-IND's action against 15 offshore exchanges. That is because it was already on the list, not because it was cleared. Buying, selling and holding crypto remains legal in India, as our guide on whether cryptocurrency is legal in India explains. The legal duty to register falls on MEXC, not on you, but using an unregistered platform leaves you without any of the protections or records of a registered one.
Why some exchanges came back and MEXC did not
Three big offshore exchanges on the same takedown list chose to pay and register. Their paths show what MEXC has not yet done.
| Exchange | On takedown list | FIU-IND penalty | Registered by 9 March 2026? |
|---|---|---|---|
| KuCoin | Entry 2 | ₹34.5 lakh (March 2024) | Yes, entry 41 |
| Binance | Entry 1 | ₹18.82 crore (June 2024) | Yes, entry 47 |
| Bybit | Entry 13 | ₹9.27 crore (January 2025) | Yes, entry 48 |
| MEXC Global | Entry 8 | None found | No |
| Bitget | Entry 14 | None found | No |
Our guides on KuCoin, Binance and Bitget cover each case. The pattern is consistent: an offshore exchange that wants Indian users settles with FIU-IND, registers, deducts TDS and reports to Indian authorities. Until then, it stays on the blocked side.
What MEXC changed for Indian users in 2026
MEXC announced the changes on 14 January 2026 and gave product-by-product detail in a notice on 20 January, updated on 3 February. The key dates:
| Date | What changed for users in India |
|---|---|
| 15 January 2026 | New registrations from India paused. Indian users could no longer join events, launchpads, airdrops or referral programmes; rewards already earned were honoured. |
| 3 February 2026 | No new pre-market orders. |
| 27 February 2026 | INR removed from the P2P market and all INR ads taken down. Last day to close stock futures positions. |
| 28 February 2026, 00:00 IST | Spot trading suspended and open orders cancelled. No new futures positions. On-chain deposits, INR deposits and INR withdrawals stopped. Transfers between accounts halted. Flexible savings redeemed automatically. |
MEXC said positions would not be force-closed just because of the suspension, but normal liquidation rules still applied if prices moved against them. It told users to manage open positions and withdraw their assets before 28 February.
What this means for you
If you still have coins on MEXC, act on it rather than waiting for a resumption that has no date.
- Try a crypto withdrawal first. MEXC's notices listed deposits, trading and INR withdrawals as suspended; they did not list on-chain crypto withdrawals, and MEXC asked users to withdraw. Send coins to a wallet you control or to a registered Indian exchange. Our guide to moving crypto between exchanges shows how to pick the right network.
- If you cannot get in, write to MEXC support from your registered email, give your user ID and asset list, and keep every reply. A block limits access but does not seize your funds.
- Do not use a VPN to get round the blocking. Logging in from a false location can break MEXC's terms and get the account frozen with your coins inside.
- Beware of fake apps and "recovery agents". With the real app gone from Indian stores, cloned apps and people offering to unlock accounts for a fee are common. Read our guide to downloading crypto apps safely.
- Sell for rupees on a registered platform. Then follow our guide to withdrawing crypto to your bank account. Avoid P2P sales to strangers.
For the wider picture, read what happens to your crypto if an exchange shuts down.
Tax on MEXC 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 buying is deductible, and losses cannot be set off against other income or carried forward. Registered platforms deduct 1% TDS on sales (above ₹50,000 a year for specified persons and ₹10,000 for others). If no TDS was deducted on your MEXC trades, the tax is still due, and the trades still go in Schedule VDA of your return.
| Example | Amount |
|---|---|
| Bought a token on MEXC | ₹40,000 |
| Sold it on MEXC for | ₹1,00,000 |
| Taxable gain | ₹60,000 |
| Tax at 30% plus 4% cess | ₹18,720 |
| Loss on another MEXC token you can set off | ₹0 |
The Income Tax Department has sent more than 44,000 messages under its NUDGE campaign to people whose crypto trades were missing from their returns. If you get one, read what to do about a crypto tax notice; for the full rules, see our crypto tax in India guide.
Registered alternatives to MEXC
Many Indians used MEXC for small, new tokens. If you want a wide coin list on a registered platform, KuCoin is the closest match (6.9/10 in our ranking; see our KuCoin review). For INR trading, CoinDCX (8.4/10), Giottus (8.2/10) and CoinSwitch (8.1/10) lead our list of the best crypto apps in India. Our safety guides on WazirX and ZebPay cover two Indian options in detail.
How to check any exchange
- Find the legal company name and FIU-IND registration number (starting "VA") in the platform's terms or compliance pages.
- Check the company against the 54 registered providers tabled in the Lok Sabha on 30 March 2026, which our FIU list reflects.
- Search for FIU-IND penalty orders, show-cause notices and blocking notices that name it.
- Check that the app is in the Indian Play Store and App Store and the website opens without a VPN.
- Check that it asks for your PAN and deducts 1% TDS on sales.
Related guides
- Is Kraken legal in India?: what the FIU block means.
- Is BingX legal in India?: the FIU takedown and your funds.
- Is Gate.io legal in India?: ban status and what to do.
FAQ
Is MEXC legal in India?
No. MEXC is not registered with FIU-IND and is on the government's list of 53 offshore platforms directed to be taken down, tabled in the Lok Sabha on 30 March 2026.
Is MEXC banned in India?
The platform is blocked: FIU-IND acted against MEXC Global in December 2023 and its apps were removed from Indian stores in January 2024. Crypto itself is not banned in India.
Is MEXC FIU registered?
No. MEXC is not among the 54 registered VDA service providers as of 9 March 2026. It says it is working on registration but has given no date.
Can Indians still trade on MEXC?
No. MEXC itself suspended trading and deposits for users in India from 28 February 2026, and paused new Indian sign-ups from 15 January 2026.
How do I withdraw my funds from MEXC in India?
Try withdrawing your crypto to your own wallet or a registered Indian exchange, then sell there. If you cannot get access, contact MEXC support from your registered email and keep records; do not pay anyone who offers to unlock it.
Do I have to pay tax on MEXC profits?
Yes. Profits are taxed at 30% plus 4% cess and must be reported in Schedule VDA, even if MEXC deducted no TDS.
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.
