Which Crypto Exchanges Are Legal in India? FIU List Decoded

Trading crypto is legal in India, but your exchange must be FIU-IND registered under the PMLA.

Nine offshore exchanges including Binance were blocked in Jan 2024; Binance returned after a ~₹18.82 crore penalty.

Offshore platforms usually skip the 1% TDS — making YOU personally liable to deduct and deposit it.

Verify your app on the FIU-IND reporting-entity list before depositing a rupee.

Self-custody in your own wallet is still legal, but tax and TDS duties don't disappear.