India's financial intelligence unit has brought 49 cryptocurrency exchanges into its regulatory framework during fiscal year 2025, intensifying efforts to combat money laundering in the digital asset space. The registration push reflects a strategic crackdown on non-compliant platforms.

The enforcement action has been swift and substantial. Authorities have levied ₹28 crore in penalties against exchanges failing to meet compliance standards. The registered entities include 45 India-based exchanges alongside 4 offshore platforms operating within the Indian market.

This regulatory escalation marks a turning point in how India approaches crypto oversight. Rather than outright bans, the government is channeling exchanges through structured compliance mechanisms, requiring transparent operations and robust anti-money laundering protocols. The combination of registration requirements and financial penalties signals New Delhi's commitment to mainstreaming crypto while eliminating bad actors from the ecosystem.