FIU-IND is India's federal body for monitoring financial crimes and AML compliance. Registration ensures exchanges meet Know Your Customer (KYC) standards and report suspicious activity to authorities.
Registered exchanges now automate tax reporting for Schedule VDA income. Your transaction history becomes audit-ready, reducing the burden of ITR filing and minimizing audit risk with tax authorities.
Verify that your primary exchange is FIU-registered. Unregistered platforms face shutdown risk and create personal audit exposure. If unsure, switch to a major registered platform immediately.
The government is enforcing this requirement with penalties under the PMLA Act. Operators of unregistered exchanges face prosecution. Traders on unregistered platforms have no regulatory protection.
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