India’s Financial Intelligence Unit targets large off-exchange crypto transactions to enhance transparency and combat money laundering.
India’s Financial Intelligence Unit has requested records of over-the-counter crypto trades exceeding USD 10,000 from three major exchanges. The move aims to identify beneficial owners behind private entities involved in these transactions, addressing regulatory concerns over opacity in large off-exchange deals.
Regulators will require exchanges to trace and retain these records starting January 2026. The directive follows growing scrutiny of crypto transactions conducted outside public order books, which are seen as higher-risk for illicit activities.
The focus on OTC trades reflects broader efforts to close transparency gaps in India’s crypto market, aligning with global anti-money laundering standards.