India's Enforcement Directorate filed a prosecution complaint on June 15, 2026 against Chirag Tomar for a Coinbase phishing scam that stole over $20 million. Total attached assets now stand at Rs 64.55 crore.
India's FIU-IND annual report reveals 49 crypto exchanges registered under AML laws, with total penalties of ₹28 crore ($3.37M). Binance fined ₹18.82 crore, Bybit fined ₹9.27 crore. India opts for strict compliance over ban, attracting global platforms despite penalties.
CoinDCX founders Sumit Gupta and Neeraj Khandelwal were arrested in a Rs 7.16 million alleged crypto fraud case in India. The exchange rejected the claims, saying the complaint stems from an impersonation scam and that the funds never reached official accounts.
A Mumbai court has granted bail to businessman Raj Kundra in a case tied to the GainBitcoin scheme. India’s Enforcement Directorate alleges he received 285 BTC linked to a mining project that never materialized.
Binance still lacks direct INR spot pairs despite FIU-IND registration. The key hurdles are banking integration and RBI rules. Watch for bank partnerships, TDS cuts, and SEBI circulars in 2026 as potential triggers.
India attracted $340 billion in crypto inflows from June 2024 to June 2025, per OECD, ranking first in Asia. Despite harsh taxes, the country has 119M crypto users. On July 2, Parliament quizzed the RBI on crypto policy for the first time. Three regulatory paths lie ahead.
FIU-IND orders exchanges to disclose OTC deals over $10K and trace beneficial owners; ED raids five crypto firms in Bengaluru; Binance mandates full sender/receiver details. 30% crypto tax remains.
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.
