In a significant regulatory move, leading cryptocurrency exchanges Binance and Kraken have been taken down from the Indian Apple App Store as part of rigorous government enforcement.

Several well-known cryptocurrency exchanges, including Binance and Kraken, found their apps inaccessible on Apple's platform in India following a directive from the Financial Intelligence Unit. Binance , Kucoin , Kraken and MEXC This regulatory measure was initiated by the Indian government agency FIU IND, which is tackling compliance issues related to the nation’s anti-money laundering framework. FIU IND The FIU IND has mandated that the Ministry of Information Technology in India handle the blocking of these exchange platforms.

Notably, additional exchanges, such as Huobi, Cryptocurrencylistings.com, Bittrex, and Bitfinex, also had their applications removed, although Bitstamp remains available on the App Store in India. Interestingly, these crypto apps are still present on the Google Play Store, and users can access their websites within the country. MEIT ).

The government had previously indicated intentions to restrict access to nine exchanges due to their noncompliance with provisions outlined in the Prevention of Money Laundering (PML) Act and Counter Financing of Terrorism (CFT) framework.

FIU IND recently announced The firm actions by FIU IND against cryptocurrency exchanges underscore the government's attention on the potential risks tied to cryptocurrency activities, highlighting its commitment to regulatory oversight in the sector.

Navigating the intricate landscape of cryptocurrencies in India has been a challenging endeavor, given the government's historically stringent stance on digital assets. authorities’ concerns Five years ago, the Reserve Bank of India pronounced a ban on cryptocurrencies, which was later overturned by the Supreme Court; still, the central bank persists in advocating for strict regulations.

Recently, India instituted a 30% tax on cryptocurrency gains, in addition to a 1% tax on each transaction involving virtual currencies. This has prompted many Indian traders to shift their activities to international cryptocurrency platforms to evade taxation.

India While there are local exchanges operating in India, such as CoinSwitch Kuber, B Capital's CoinDCX, and WazirX, which was once partnered with Binance, these platforms require stringent know-your-customer (KYC) verification processes before onboarding new users, a measure not routinely enforced by many international platforms.

Last year, Coinbase, a global exchange, halted the onboarding of customers in India amidst informal pressures from the Central Bank of India, which reflects the complexities of the regulatory framework surrounding cryptocurrencies in the country.

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Alisa, a committed journalist at the Cryptocurrencylistings, specializes in the domains of cryptocurrency, zero-knowledge proofs, investments, and the expanding world of Web3. With an astute perspective on emerging trends and technologies, she provides thorough coverage to engage and inform readers in the constantly changing digital finance space. a16z-backed Blum is celebrating its one-year anniversary, having garnered accolades for ‘Best GameFi App’ and ‘Best Trading App’ during the Blockchain Forum 2025.

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