India's Financial Intelligence Unit (FIU-IND) has reported that 49 cryptocurrency exchanges have completed anti-money laundering (AML) registration for the 2024-25 fiscal year. This includes 45 domestic and 4 offshore platforms. The FIU mandates that registered exchanges submit suspicious transaction reports, identify wallet beneficiaries, and track fund flows. Last fiscal year, the FIU imposed fines totaling 2.8 billion rupees on non-compliant entities. In October 2025, India blocked access to 25 non-compliant offshore exchanges, with only a few platforms like Binance, Coinbase, and Mudrex remaining operational after completing registration.