CoinSwitch has introduced DigiVault in India, a crypto custody platform for high-net-worth clients, institutions, and family offices, with Fireblocks-backed security, local support, and a compliance-focused structure.
Starting June 22, 2026, Binance mandates full sender and recipient identity details for all crypto deposits and withdrawals by Indian users, with no minimum threshold. The move aligns with India's adoption of the FATF Travel Rule, ending anonymous transfers on regulated platforms.
India’s parliamentary finance panel reviewed crypto policy after briefings from FIU-IND and CBDT. Authorities said they identified Rs 888.82 crore in undisclosed income linked to VDA transactions and sent notices to more than 44,000 taxpayers.
Binance says no Indian law bars crypto withdrawals to personal wallets, yet many local exchange users still face delays, repeated KYC checks, and blocked transfers driven by compliance and banking risk concerns.
Pakistan has opened a virtual asset regulatory sandbox covering tokenization, stablecoins and remittances, while India still lacks a dedicated crypto law despite its vast user base and high market activity.
India's Financial Intelligence Unit is establishing a Virtual Asset Lab using data analytics and blockchain tracing to detect unregistered offshore crypto exchanges. Over 85 non-compliant links have already been blocked.
Binance has registered as a reporting entity with India's Financial Intelligence Unit (FIU-IND), marking its 19th global regulatory milestone. Indian users now have full access to the exchange's website and app. CEO Richard Teng emphasized compliance, following a $2.25M fine and $87M GST bill.
India’s crypto rules make KYC effectively mandatory for legal USDT purchases. Users can avoid P2P risks through FIU-compliant exchanges and direct bank transfers, but not identity verification.
