Parliament Question: Regulation of Virtual Digital Assets in the Country

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 UnitIndia (FIU IND) under PMLA, 2002. This is Pursuant to Notification F. No. P-12011/12/2022- ES 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. Cryptosmartlife India Ltd 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 Transak India Limited 24 REMIZO Technologies India Private Getbit India Limited 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 India35* Pagarpay India Private Limited Density India Exchange 36 Lightningnodes Technologies Private pi42 India Limited 37 Kooz Advisors and Technologies Private KoinBX India Limited 38 Mindless Pandora Tech Solutions Private - India Limited 39 FanCraze Technologies Inc. - Delaware, USA 40 SUBHX INFOTECH (OPC) PRIVATE BIT24HR India LIMITED 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 Binance Seychelles International Limited) 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 eXchange1.India India Linked to INDIA PRIVATE LIMITED Offshore UAB “Web 3 Utility Platform” 52** Eopsin Tech Private Limited PLATINX India 53** PARAACRYPTO TECHNOLOGY Parracrypto India PRIVATE LIMITED 54** Durva Fintech Private Limited BitDelta India *Not Operational/Winded up operation as per submission of Reporting Entity. ** Conditionally On-boardedAnnexure-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 Remitano40 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 *****