VASP Tracker › India
India Crypto Licensing: PMLA Registration
In force / passed In force / passed: 28 Dec 2023 (regulator notice)
- Regulator
- Financial Intelligence Unit – India (FIU-IND)
- Legal basis
- PMLA 2002 · VDA service providers as reporting entities (S.O. 1072(E))
e-Gazette · S.O. 1072(E), 7 Mar 2023
PIB · FIU-IND press release, 28 Dec 2023 - Official register
- FIU-IND does not publish a public register of registered VDA SPs.
What Is Changing
India has no crypto licensing law. Since March 2023, VDA service providers must register with FIU-IND as reporting entities under the Prevention of Money Laundering Act, with reporting, record-keeping and KYC obligations, whether or not they have a physical presence in India.
FIU-IND has acted against unregistered offshore platforms, including show-cause notices to nine of them in December 2023.
Timeline
- rules published
The Finance Ministry's notification S.O. 1072(E) brings virtual digital asset service providers (VDA SPs) under the Prevention of Money Laundering Act as reporting entities. Exchange, transfer, custody and issuer-related services must register with FIU-IND.
Sources: e-Gazette · S.O. 1072(E) official · PIB · 28 Dec 2023 official
- regulator notice
FIU-IND issues show-cause notices to nine offshore VDA SPs operating without registration and asks for their URLs to be blocked. The obligation is activity-based and does not depend on physical presence in India; 31 VDA SPs had registered by then.
Sources: PIB · 28 Dec 2023 official
A company-level tracker for India is in preparation. This page covers the rules and dates only. CSV
Cite This
VASP Tracker, “India crypto licensing: PMLA registration”, https://vasptracker.com/en/in/ (21 Oct 2026), CC BY 4.0.