India's FIU Targets Large OTC Crypto Trades in Fresh Regulatory Push

India's Financial Intelligence Unit (FIU) has issued a directive to three major cryptocurrency exchanges, requesting records of over-the-counter (OTC) transactions valued above $10,000. The focus is on beneficial ownership behind private companies, trusts, and intermediary trading structures.

The FIU wants exchanges to collect and preserve information showing who stands behind these entities, particularly in cases where private companies or trusts are involved in OTC deals.

Exchanges must maintain OTC transaction records from January 2026 onward for regulatory and investigative review. This directive is part of a broader effort to apply stronger reporting standards to digital asset markets worldwide.