During the 2024–25 fiscal year, 49 cryptocurrency exchanges were registered with India’s Financial Intelligence Unit (FIU-IND), reflecting tighter regulatory oversight of the digital asset sector. The registrations follow government mandates requiring virtual asset service providers to comply with anti-money laundering and counter-terror financing norms. Authorities view the move as a step toward improving transparency, monitoring suspicious transactions, and bringing crypto trading platforms under the formal financial compliance framework while allowing regulated operations to continue in India.