India FIU Seeks Records of OTC Crypto Trades Above $10,000
Summary
- India’s FIU has asked three major cryptocurrency exchanges to submit records of OTC trades above $10,000.
- Indian financial authorities are focused on obtaining materials that can identify the ultimate beneficial owners (UBO) of unlisted companies, brokerages and other entities.
- The measure applies to transactions carried out from January 2026 onward and is intended to improve transparency in large cryptocurrency transactions while reducing money-laundering risks.
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India’s Financial Intelligence Unit has asked major cryptocurrency exchanges to submit details of over-the-counter trades exceeding $10,000, Cryptopolitan reported on June 23.
The FIU recently requested information on OTC transactions above $10,000 from three major crypto exchanges, the report said.
Indian financial authorities are particularly focused on obtaining materials that can identify the ultimate beneficial owners, or UBOs, of unlisted companies, brokerages and other trading entities.
The requirement applies to transactions carried out from January 2026 onward. Exchanges must track and retain the relevant records and be able to provide them to authorities when requested.
The measure is aimed at increasing transparency in large crypto transactions conducted outside public exchange order books. Indian authorities have recently stepped up oversight of the OTC market to reduce the risks of money laundering and illicit fund transfers.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
