Is Binance legal in India? FIU-IND, tax and KYC (2026)

Short answer

Binance’s India page shows the label “FIU-IND Registered”, and an FIU-IND order of 19 June 2024 names Binance as a Reporting Entity under the PMLA and fines it Rs. 18.82 crore. We checked both on 16 October 2026. That tells you Binance is inside India’s anti-money-laundering regime. It does not tell you that the RBI has licensed it, that your funds are protected, or that a trade will be tax-free. This page shows no sign-up button: we have not confirmed that Binance is claimable for Indian users, so we do not point you to a registration link.

Binance and FIU-IND: from the 2023 notices to registration

Date	Event	Source
December 2023	FIU-IND sends show-cause notices to nine offshore platforms, Binance among them, and asks MeitY to block their URLs	YourStory, 29 Dec 2023
19 June 2024	FIU-IND order No. 10/DIR/FIU-IND/2024 in the matter of Binance	FIU-IND order (PDF)
16 October 2026	binance.com/en-IN shows “FIU-IND Registered”	Binance India page

The YourStory report is a news account of the 2023 notices, not an official document, and we rely on it only for that one event. We did not find a primary source for the date on which Binance registered with FIU-IND, and the 2024 order does not state one. We therefore give no registration date.

What the 2024 FIU-IND summary says

The one-page document describes an order that imposes a penalty of Rs. 18,82,00,000 on Binance. It cites Section 12(1) of the PMLA read with Rules 7(1), 3(1)(D), 7(3) and 8(2), and it describes Binance as a Reporting Entity under Section 2(1)(wa). The linked PDF is FIU-IND’s own representational summary of the order and says it has no legal significance; we did not read the full order text. We do not summarise its findings beyond what is quoted here, because we would rather link the primary document than paraphrase it.

What FIU registration does and does not mean

A Reporting Entity must follow the reporting and record-keeping duties of the PMLA. That is supervision against money laundering. It is not an RBI licence, it is not a guarantee, and it is not a deposit-protection scheme. We found no RBI approval for Binance in the sources we checked. Crypto products are unregulated for investor-protection purposes in the sense of the ASCI notice at the top of this page: there may be no regulatory recourse for a loss.

Signing up and KYC

The Binance India page says KYC is required before you buy crypto. Because we show no sign-up button for India, we do not walk you through registration and we do not publish a code. If you register, use only Binance’s own site or the Binance Switzerland AG app listing in your store, with your own documents.

Depositing INR: cards and P2P

The Binance India page describes buying crypto by credit or debit card and P2P trading with a preferred local payment method, and lists P2P trading of USDT against INR. It does not name UPI, so we do not claim UPI is available. We have not tested a deposit and we did not read Binance’s help pages on limits, so we publish no limits, no fees for deposits and no processing times.

Crypto tax in India: 30% base rate, surcharge, cess and 1% TDS

The Income Tax Department guide to virtual digital assets states that income from a VDA is taxed at a 30% base rate under section 115BBH, plus surcharge and cess; the guide does not give your final percentage. No expense other than the cost of acquisition is deducted, and a loss cannot be set off against other income. A separate 1% TDS under section 194S applies to a payment for a VDA to a resident, with a threshold of Rs. 50,000 for certain individuals and HUFs and Rs. 10,000 for others. The guide carries no date inside; its file name is dated 6 January 2026. This is not tax advice. Rules change and your own case may differ, so check the guide and ask a qualified adviser.

Alternatives

We have no confirmed comparison of other exchanges for India that we are willing to publish here. OKX, for one, keeps a list of Restricted Locations; see our OKX restricted countries page and do not try to work around a restriction. For what we confirm about Binance referral links, see Binance referral link, and for how we check facts, see How we verify and the editorial policy.

A checklist before you register

1. Open the exchange only from its own address or the official store listing, and check the seller name against the company named on its site.
2. Read the current terms and the list of restricted locations on the day you register.
3. Use only your own identity documents for KYC; verification cannot be shared or borrowed.
4. Keep records of every trade with dates, INR amounts and fees, and test a small withdrawal before moving a large balance.

How we checked this page

Every claim in the table above is tied to a source URL and the date we checked it, and the notes marked as our own checks name how we did them. If a source changes, the page date and the check date change together. This page does not state a Binance bonus amount, because the official Binance offer page is not yet confirmed in our data.