Lok Sabha Question No. 5805 (UNSTARRED), answered on 2026-03-30
Subject: Regulation of Virtual Digital Assets in the Country
Ministry: FINANCE
Asked by: Shri Putta Mahesh Kumar

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA UNSTARRED QUESTION NO. 5805

TO BE ANSWERED ON MONDAY, MARCH 30, 2026/ CHAITRA 09, 1948 (SAKA)

## Regulation of Virtual Digital Assets in the Country

5805. Shri Putta Mahesh Kumar;

Will the Minister of Finance be pleased to state:

- (a)  whether the Government maintains data on the number of Virtual Digital Asset (VDA) exchanges currently operating in the country, if so, the details thereof including the country of origin;
- (b) the details regarding the list of such VDA exchanges that are registered in the country under the Companies Act, 2013;
- (c)  whether  the  Government  has  prescribed  any  timeline  or  framework  for  completion  of registration or compliance by unregistered VDA exchanges, if so, the details thereof;
- (d) whether the Government has blocked or directed the blocking of websites, URLs, or access to VDA exchanges that are not registered or compliant with applicable laws during the last ten years, if so, the details thereof including a list of such VDA exchanges;
- (e) whether a public portal or website exists for dissemination of information on registered VDA exchanges for general awareness; and
- (f) if so, the details thereof and if not, the reasons therefor?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

- (a): Yes, Virtual Digital Asset (VDA) exchanges/ Virtual Digital Asset Service Providers (VDA SPs) have been  brought  into  the  ambit  of  Anti-Money  Laundering  (AML)/Counter Financing of Terrorism (CFT) framework under the Prevention of Money Laundering Act, 2002 (PMLA, 2002). VDA SPs are Reporting Entities (REs) to the Financial Intelligence Unit

India (FIU IND) under PMLA, 2002. This is Pursuant to Notification F. No. P-12011/12/2022ES Cell-DOR dated March 07, 2023, issued by the Central Government. Therefore, VDA SPs are  obliged  to  report  specified  transactions  to  FIU-IND,  including  suspicious  transactions. These suspicious transaction reports are subsequently processed, analysed and disseminated by FIU-IND  to  concerned  Law  Enforcement  Agencies  for  further  necessary  Action.  As  on 09.03.2026, total 54 VDA SPs have been registered with FIU-India as Reporting Entities, and details thereof are at Annexure-I.

(b): VDA exchanges are not registered in the country under the Companies Act, 2013. However, companies with exposure to crypto assets are required to disclose their holding of crypto assets in their financial statements as per the amendment brought in Schedule III to the Companies Act 2013, vide notification dated 24th March 2021, effective from 1st April 2021.

(c): The  registration  framework  is  prescribed  in  the ' AML  and  CFT  Guidelines  for Reporting  Entities  Providing  Services  Related  to  Virtual  Digital  Assets ' ,  updated  on 08.01.2026, which are available on the FIU-IND website (https://fiuindia.gov.in).

(d): FIU-IND has directed the takedown of various applications and URLs of 53 VDA SPs engaged in notified activities and found to be operating illegally in India without complying with the relevant provisions of the PMLA, 2002. Details of these exchanges are at Annexure II.

(e): No.

(f): FIU-IND has not made the list of registered VDA SPs public due to its specific mandate under the PMLA, 2002 which is limited to ensuring compliance with Anti-Money Laundering (AML)/Counter  Financing  of  Terrorism  (CFT)  obligations.  The  registration  database  is primarily meant for Law Enforcement Agencies (LEAs) and supervisory purposes. Publishing a  public  list  may  create  the  impression  that  registered  entities  are  licensed,  approved,  or endorsed by the government, similar to entities regulated by financial sector regulators. This could mislead users into assuming regulatory protection or recourse in case of fraud or loss .

## Annexure-I

## (List of 54 Virtual Digital Asset Service Providers (VDA SPs) Registered With FIU-India)

| S.N.   | RE Name                                   | Trade Name      | Country                                                        |
|--------|-------------------------------------------|-----------------|----------------------------------------------------------------|
| 1      | Neblio Technologies Private Limited       | Coin DCX        | India                                                          |
| 2      | ANQ Digital Finserv Private Limited       | ANQ Finance     | India                                                          |
| 3      | Unocoin Technologies PVT LTD              | Unocoin         | India                                                          |
| 4      | Buyhatke internet private limited         | Onramp          | India                                                          |
| 5      | Giottus Technologies Pvt Ltd              | Giottus         | India                                                          |
| 6      | Bitbns Internet Private Limited           | Bitbns          | India                                                          |
| 7      | Awlencan Innovations India Limited        | Zebpay          | India                                                          |
| 8      | Zanmai Labs PVT LTD                       | WazirX          | India                                                          |
| 9      | Bitcipher Labs LLP                        | Coinswitch      | India                                                          |
| 10     | Nextgendev Solutions Private Limited      | CoinswitchX     | India                                                          |
| 11     | RPFAS Technologies Private Limited        | Mudrex          | India                                                          |
| 12     | IBLOCK Technologies Private Limited       | Buyucoin        | India                                                          |
| 13*    | WOLLFISH Labs Pvt Ltd                     | Coindhan        | India                                                          |
| 14     | Rario Digital Private Limited             | Rario           | India (Linked to Offshore VASP Digital Collectibles Pte. Ltd.) |
| 15     | Angelic Infotech Private Limited          | Suncrypto       | India                                                          |
| 16     | Carretx Technologies Pvt. Ltd.            | Carret          | India                                                          |
| 17*    | Ante Multimedia Private Limited           | -               | India                                                          |
| 18     | ABHIBHA Technologies Private Limited      | Onmeta          | India                                                          |
| 19*    | Smartliving Digital Technologies Pvt. Ltd | Cryptosmartlife | India                                                          |
| 20     | UCY Technology Private Limited            | Pyor            | India                                                          |
| 21     | Digital Collectibles Pte. Ltd.            | Rario           | Singapore                                                      |
| 22*    | Veeratva Technologies Private Limited     | Valr            | India                                                          |
| 23*    | Transak Technology India Private Limited  | Transak         | India                                                          |
| 24     | REMIZO Technologies India Private Limited | Getbit          | India                                                          |
| 25*    | FIN GENIE Tech Private Limited            | Bytex           | India                                                          |
| 26     | ARDOUR Labs Private Limited               | -               | India                                                          |
| 27     | Inocyx Technologies Private Limited       | Inocyx          | India                                                          |
| 28     | Metatoken Technologies Private Limited    | Fanztar         | India                                                          |
| 29     | Excelium Technologies Private Limited     | Delta Exchange  | India                                                          |
| 30*    | Rovi91 Innovations Private Limited        | -               | India                                                          |
| 31     | Longreen India Private Limited            | Bitbse.com      | India                                                          |
| 32     | Flitpay Private Limited                   | Flitpay         | India                                                          |
| 33     | Fincrypt LLP                              | Stable Pay      | India                                                          |
| 34     | Arthbit Private Limited                   | ArthBit         | India                                                          |

| 35*                                                                         | Pagarpay India Private Limited                                              | Density Exchange                                                            | India                                                                       |
|-----------------------------------------------------------------------------|-----------------------------------------------------------------------------|-----------------------------------------------------------------------------|-----------------------------------------------------------------------------|
| 36                                                                          | Lightningnodes Technologies Private Limited                                 | pi42                                                                        | India                                                                       |
| 37                                                                          | Kooz Advisors and Technologies Private Limited                              | KoinBX                                                                      | India                                                                       |
| 38                                                                          | Mindless Pandora Tech Solutions Private Limited                             | -                                                                           | India                                                                       |
| 39                                                                          | FanCraze Technologies Inc.                                                  | -                                                                           | Delaware, USA                                                               |
| 40                                                                          | SUBHX INFOTECH (OPC) PRIVATE LIMITED                                        | BIT24HR                                                                     | India                                                                       |
| 41                                                                          | Peken Global Limited                                                        | KuCoin                                                                      | Seychelles                                                                  |
| 42                                                                          | ALSD Technologies Private Limited                                           | Alpyne                                                                      | India                                                                       |
| 43*                                                                         | Damsol Pvt Ltd                                                              | Square                                                                      | India                                                                       |
| 44                                                                          | First Answer India Technologies Pvt Ltd                                     | Liminal                                                                     | India                                                                       |
| 45                                                                          | Eclipton Technologies Private Limited                                       | Eclipton                                                                    | India Linked to Offshore VASP Blockoville OU                                |
| 46                                                                          | Blockoville OU                                                              | Blockoville                                                                 | Estonia                                                                     |
| 47                                                                          | Nest Services Limited (Earlier Binance International Limited)               | Binance                                                                     | Seychelles                                                                  |
| 48                                                                          | Bybit Fintech Limited                                                       | Bybit                                                                       | Seychelles                                                                  |
| 49                                                                          | Coinbase India Private Limited                                              | Coinbase                                                                    | India (Linked to Global Coinbase)                                           |
| 50                                                                          | UAB 'Web 3 Utility Platform'                                                | eXchange1                                                                   | Lithuania                                                                   |
| 51                                                                          | UAB WEB 3 UTILITY IT SERVICES INDIA PRIVATE LIMITED                         | eXchange1.India                                                             | India Linked to Offshore UAB 'Web 3 Utility Platform'                       |
| 52**                                                                        | Eopsin Tech Private Limited                                                 | PLATINX                                                                     | India                                                                       |
| 53**                                                                        | PARAACRYPTO TECHNOLOGY PRIVATE LIMITED                                      | Parracrypto                                                                 | India                                                                       |
| 54**                                                                        | Durva Fintech Private Limited                                               | BitDelta                                                                    | India                                                                       |
| *Not Operational/Winded up operation as per submission of Reporting Entity. | *Not Operational/Winded up operation as per submission of Reporting Entity. | *Not Operational/Winded up operation as per submission of Reporting Entity. | *Not Operational/Winded up operation as per submission of Reporting Entity. |

## Annexure-II

(List of VDA exchanges directed for takedown of their applications and URLs that provide public access)

|   S. No | Name of the Offshore VDA service provider   |
|---------|---------------------------------------------|
|       1 | Binance                                     |
|       2 | Kucoin                                      |
|       3 | Huobi                                       |
|       4 | Kraken                                      |
|       5 | Gate.io                                     |
|       6 | Bittrex                                     |
|       7 | Bitstamp                                    |
|       8 | MEXC Global                                 |
|       9 | Bitfinex                                    |
|      10 | OKX                                         |
|      11 | P2PX                                        |
|      12 | CoinpayX                                    |
|      13 | Bybit                                       |
|      14 | Bitget                                      |
|      15 | Bitmart                                     |
|      16 | Bitgo                                       |
|      17 | Coinbase                                    |
|      18 | Gemini                                      |
|      19 | Noones                                      |
|      20 | Baazcoin                                    |
|      21 | Crypto.Com                                  |
|      22 | Moonpay                                     |
|      23 | Mercuryo                                    |
|      24 | Neteller                                    |
|      25 | Skrill                                      |
|      26 | Onlychain                                   |
|      27 | P2p.me                                      |
|      28 | Huione                                      |
|      29 | BC.game                                     |
|      30 | Paxful                                      |
|      31 | Changelly                                   |
|      32 | CEX.IO                                      |
|      33 | LBank                                       |
|      34 | Youhodler                                   |
|      35 | BingX                                       |
|      36 | PrimeXBT                                    |
|      37 | BTCC                                        |
|      38 | Coinex                                      |
|      39 | Remitano                                    |

|   40 | Poloniex      |
|------|---------------|
|   41 | BitMex        |
|   42 | Bitrue        |
|   43 | LCX           |
|   44 | Probit Global |
|   45 | BTSE          |
|   46 | HIT BTC       |
|   47 | LocalCoinSwap |
|   48 | AscendEx      |
|   49 | Phemex        |
|   50 | ZooMex        |
|   51 | CoinCola      |
|   52 | CoinW         |
|   53 | Beldex        |

*****