28 crypto platforms register with FIU-India: MoS Finance in Lok Sabha  (2024)

FAQs

28 crypto platforms register with FIU-India: MoS Finance in Lok Sabha ? ›

As many as 28 crypto exchanges or virtual digital asset service providers have registered with the Financial Intelligence Unit–India. These include CoinX, Unocoin, Bitbns, Zebpay, WazirX, Coinswitch, CoinswitchX and Rario.

The Indian government's Financial Intelligence Unit (FIU) has approved the registration applications of offshore cryptocurrency exchanges Binance and Kucoin as Virtual Asset Service Providers (VASPs) to operate in India.

As many as 28 Virtual Digital Assets (VDA) service providers, including WazirX, Coin DCX and Coinswitch, have registered themselves with the Financial Intelligence Unit-India (FIU-IND), Finance Ministry said on Monday.

In a major development, Binance has announced its return to India as an entity registered with the Financial Intelligence Unit of the Finance Ministry.

The Indian government's Financial Intelligence Unit (FIU) has approved the applications of offshore cryptocurrency exchanges Binance and Kucoin to register them as Virtual Asset Service Providers (VASPs) to trading in India, a top government official said.

WazirX - Institutional Services

Being the largest crypto exchange in India (by trade volume), We have incorporated the global best practices for KYC & AML compliance. We are also a part of the Internet and Mobile Association of India (IAMAI) and the Blockchain and Crypto Assets Council (BACC).

The Service we provide is currently unregulated within India.

In this article, we'll guide you through the crypto investment process and present the top four crypto exchanges in India—CoinSwitch, WazirX, Unocoin, and BitBNS—to help you choose the best crypto trading platform in India.

Currently banned by the Indian government, crypto exchange Binance has reportedly received approval from the Financial Intelligence Unit (FIU) of the finance ministry to operate as a virtual asset service provider (VASP). As per an ET report, the unit also approved a similar application from Kucoin.

WazirX, a proudly Made in India platform, stands as one of the pioneers among Virtual Digital Assets Service Providers (VDA SPs) registered with FIU IND as a reporting entity in March 2023.

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Florida International University is ranked #124 out of 439 National Universities. Schools are ranked according to their performance across a set of widely accepted indicators of excellence.

CoinDCX is FIU-registered.

In conclusion, the best crypto exchanges in India include Mudrex, CoinDCX, CoinSwitch, WazirX, ZebPay, and BitBNS based on several factors like ease of use, security, fees, coin availability, and more. Each crypto exchange has its strengths and weaknesses, catering to various needs and preferences.

While Bybit is not explicitly banned in India, there is a risk that trading on the platform could be considered illegal or subject to scrutiny by Indian authorities.

Yes, you can use Binance in the US. But the American version of the platform (Binance.US) is quite limited compared to the international one. Also, Binance is entirely banned in several states, including New York, Texas, Louisiana, Hawaii, Idaho, and Vermont. For more details, check out this article.

Established in 2017, CoinSwitch operates as a reporting entity under the purview of the Financial Intelligence Unit-India, implementing stringent transaction monitoring protocols and fully adhering to KYC and PMLA guidelines in India.

Is Delta Exchange India legal? We are registered with Financial Intelligence Unit (FIU) of India and 100% compliant with Indian regulations. Do I need crypto to trade on Delta Exchange India? Can I buy Crypto on Delta Exchange India?