India's FIU Targets Large Crypto Trades with OTC Reporting Requirement

India's Financial Intelligence Unit (FIU) has requested three major cryptocurrency exchanges to provide records of over-the-counter trades exceeding $10,000. This move is aimed at improving transparency in large crypto transactions and reducing money-laundering risks.

The FIU wants the exchanges to submit details of OTC trades above $10,000 from January 2026 onward. Exchanges must track and retain these records and be able to provide them to authorities when requested.

Indian financial authorities are particularly focused on obtaining materials that can identify the ultimate beneficial owners (UBOs) of unlisted companies, brokerages, and other trading entities.