What crypto exchanges are banned in India
India hasn't banned crypto-but it has blocked foreign exchanges that won't register with FIU-IND. Learn which platforms are banned, which are legal, and what happens if you use the wrong one.
When people talk about banned crypto exchanges in India, crypto platforms that lost legal permission to operate after failing to register with India’s financial intelligence unit. Also known as unregistered crypto platforms, these exchanges were shut down not because crypto is illegal, but because they skipped the rules meant to stop money laundering and tax evasion. The real story isn’t about banning Bitcoin or Ethereum—it’s about enforcing accountability. In 2022, India’s Financial Intelligence Unit (FIU-IND) started requiring all crypto exchanges to register, verify user identities, and report suspicious transactions. If you didn’t comply, you got blocked. That’s how platforms like Binance India, the local arm of the world’s largest crypto exchange, which failed to meet FIU-IND’s reporting standards and WazirX, a once-popular Indian exchange that later restructured to comply ended up in the crosshairs.
It’s easy to think India hates crypto, but that’s not true. The government still lets you buy, sell, and hold digital assets. What they stopped is unregulated trading. Exchanges that didn’t do KYC, didn’t track user activity, or hid behind offshore servers got cut off. The goal? To make sure taxes are paid and scams are caught. That’s why platforms like EasiCoin, a non-KYC exchange with no security audits and multiple user complaints about stolen funds never had a chance in India. Even if they offered low fees or high rewards, they couldn’t pass the basic legal checks. Meanwhile, exchanges that followed the rules—like CoinDCX, a registered platform with full FIU-IND compliance and transparent reporting—kept operating without interruption.
So if you’re wondering why your favorite app disappeared from the App Store, it’s not because the government hates crypto. It’s because the exchange didn’t do its paperwork. The ones still up and running today are the ones that partnered with Indian banks, verified every user, and built systems to flag suspicious trades. You don’t need to leave the country or use risky workarounds—you just need to pick a platform that plays by India’s rules. Below, you’ll find a full list of the exchanges that got banned, the reasons behind each shutdown, and which ones you can safely use now. No fluff. Just facts you can act on.
India hasn't banned crypto-but it has blocked foreign exchanges that won't register with FIU-IND. Learn which platforms are banned, which are legal, and what happens if you use the wrong one.
