54 Crypto Platforms Are Registered With India's FIU. The Government Says That Is Not a Licence

The short version: 54 VDA service providers were registered with FIU-IND as reporting entities on 9 March 2026, according to a written answer in the Lok Sabha on 30 Mar 2026 (Lok Sabha USQ 5805). They include Coin DCX, WazirX, Zebpay, Coinswitch, Mudrex, Binance, KuCoin, Bybit, Coinbase. 9 of the 54 are marked as not operational or wound up, and 3 as conditionally on-boarded.

Registration Is Not a Licence

India has no crypto licensing law. Since a government notification of 7 March 2023, VDA service providers are reporting entities under the Prevention of Money Laundering Act and must register with FIU-IND and report specified transactions, including suspicious ones (Lok Sabha). The Minister of State for Finance told the Lok Sabha that FIU-IND has not published its list because “publishing a public list may create the impression that registered entities are licensed, approved, or endorsed by the government”, which “could mislead users into assuming regulatory protection or recourse in case of fraud or loss”. FIU-IND publishes no register; the list below is the one tabled in Parliament.

Major Names on the List

Where They Are Based

43 of the 54 rows give India as the country, 4 India with a link to an offshore VASP, and 7 an offshore jurisdiction: Seychelles (Binance, KuCoin and Bybit entities), Singapore, Estonia, Lithuania and Delaware.

Names, spelling and countries are as in Annexure I. Full list.