India enters 2026 holding the most scrutinised position in global crypto analytics: the number one rank on Chainalysis’s Global Crypto Adoption Index for the third consecutive year. That distinction is no longer a novelty. It is a structural data point reflecting the sheer volume of on-chain activity, the breadth of retail participation, and the growing weight of regulatory and tax infrastructure that now governs how over a hundred million Indians interact with digital assets. The 2026 policy environment is defined by parallel forces: a 30% gains tax and 1% TDS regime that has remained unchanged, an Enforcement Directorate seizing billions in crypto-linked proceeds, 49 exchanges registered under India’s anti-money laundering framework, and a formal commitment to begin exchanging offshore crypto data with 51 other jurisdictions from April 2027 under the OECD’s Crypto-Asset Reporting Framework.
At KoinX, we help investors and tax professionals automate crypto tax reporting across Indian regulatory requirements, and the statistics compiled in this article reflect exactly why robust compliance infrastructure has become indispensable for any participant operating in India’s digital asset market.
This article compiles verifiable, citation-ready statistics drawn exclusively from primary sources: Chainalysis original research reports, Indian parliamentary disclosures, FIU-IND annual reports, CBDT official communications, Ministry of Finance written replies to Parliament, and OECD policy documents. The data spans India’s global adoption ranking, raw transaction volumes, retail and institutional usage, TDS collection figures, GST enforcement, PMLA seizures, and the international reporting framework India has committed to implement. Each statistic is sourced at the level of the originating document.
Scope and Methodology
This article compiles statistics on India’s cryptocurrency adoption, transaction volumes, user data, exchange registration, and enforcement activity using only primary-source data published within the last two years from the date of compilation.
Sources were included only if the publishing organisation produced the underlying data itself. Blockchain analytics statistics are drawn exclusively from Chainalysis original research reports, not from secondary summaries. Government and regulatory figures are drawn from parliamentary written replies, FIU-IND annual reports, CBDT official announcements, and Ministry of Finance disclosures. OECD figures are drawn from the OECD’s own policy documents and monitoring reports.
Recency was enforced across all statistics: data from fiscal years 2022-23, 2023-24, and 2024-25 was accepted where it corresponds to the most current available government disclosure. In each case, the original fiscal or study year is stated in the bullet. Statistics from the Chainalysis 2024 Geography of Cryptocurrency Report cover the period July 2023 to June 2024. Statistics from the Chainalysis 2025 Geography of Cryptocurrency Report and 2025 Global Crypto Adoption Index cover the period July 2024 to June 2025.
Geographic scope is India-specific throughout, with regional CSAO and global figures included where they directly contextualise India’s position. Multi-jurisdictional OECD and CARF statistics are included where they govern India’s reporting obligations.
Statistical integrity was maintained by treating each measurable outcome as a separate bullet. No two statistics from the same document were combined into a single claim. No inference, synthesis, or opinion was added beyond what the primary source explicitly states. Known data limitations, such as the web-traffic-based estimation methodology used by Chainalysis, are acknowledged by the originating source and noted here accordingly.
India Crypto Adoption at a Glance: Key Statistics for 2026
- India ranked 1st on the Chainalysis 2025 Global Crypto Adoption Index for the third consecutive year, topping all 4 sub-indices including retail centralised services, overall centralised services, DeFi value received, and institutional centralised services, based on the 2025 Chainalysis Geography of Cryptocurrency Report covering data from July 2024 to June 2025.
- India received approximately $338 billion in total on-chain crypto value between July 2024 and June 2025, the largest figure in the Asia-Pacific region, based on the 2025 Chainalysis APAC crypto adoption analysis.
- India’s on-chain crypto transaction volume grew by 99% year over year in the 12 months to June 2025, effectively doubling from the prior-year period, based on the 2025 Chainalysis APAC crypto adoption report.
- India ranked 1st on the Chainalysis 2024 Global Crypto Adoption Index, holding the top position for the second consecutive year across 151 countries ranked using a 4-sub-index composite scoring methodology, based on the 2024 Chainalysis Geography of Cryptocurrency Report covering data from July 2023 to June 2024.
- Total TDS collected on VDA transfers in India across 3 fiscal years reached over Rs 1,095 crore (approximately $128 million), comprising Rs 221.27 crore in FY 2022-23, Rs 362.7 crore in FY 2023-24, and Rs 511.83 crore in FY 2024-25, based on a 2025 written reply to Parliament by the Minister of State for Finance, Pankaj Chaudhary.
- The Enforcement Directorate attached, seized, or froze proceeds of crime worth Rs 4,189.89 crore in crypto-related PMLA cases, arresting 29 persons and filing 22 prosecution complaints, based on a 2025 Lok Sabha written reply by the Minister of State for Finance.
- The CBDT issued 44,057 communications to taxpayers who traded or invested in VDAs but failed to report them in Schedule VDA of their ITRs under the NUDGE campaign, based on a 2025 Rajya Sabha written reply by the Minister of State for Finance, Pankaj Chaudhary.
- As of March 2025, 49 VDA Service Providers were registered as reporting entities with FIU-IND, of which 45 were onshore exchanges and 4 were offshore platforms, based on the FIU-IND Annual Report for FY 2024-25.
- India identified GST evasion of Rs 824.14 crore across 17 cryptocurrency exchanges, with only Rs 122.29 crore recovered including interest and penalties, based on a 2024 Lok Sabha written reply by the Minister of State for Finance, Pankaj Chaudhary.
- India committed to implement the OECD Crypto-Asset Reporting Framework (CARF) from April 1, 2027, requiring automatic exchange of crypto transaction data with partner jurisdictions, based on a 2025 Ministry of Finance official disclosure reported by Business Standard.
Chainalysis Global Adoption Rankings: India’s Position
- India ranked 1st on the Chainalysis 2025 Global Crypto Adoption Index, with the United States rising to 2nd place from 4th the previous year, followed by Vietnam, Pakistan, and Brazil in the top 5, based on the 2025 Chainalysis Global Crypto Adoption Index report.
- India ranked 1st on the Chainalysis 2024 Global Crypto Adoption Index for the second consecutive year, ahead of Nigeria (2nd), Indonesia (3rd), the United States (4th), and Vietnam (5th), based on the 2024 Chainalysis Geography of Cryptocurrency Report.
- The Chainalysis 2024 Global Crypto Adoption Index ranked 151 countries using 4 sub-indices: on-chain value received by centralised services, retail on-chain value by centralised services, DeFi value received, and retail DeFi value received, all weighted by GDP per capita on a PPP-adjusted basis and normalised on a 0-to-1 scale, based on the 2024 Chainalysis Global Crypto Adoption Index methodology.
- The Chainalysis index dataset for the 2024 report covers hundreds of millions of cryptocurrency transactions and more than 13 billion web visits across 151 countries during the period July 2023 to June 2024, based on the 2024 Chainalysis Global Crypto Adoption Index.
- In the 2025 Global Crypto Adoption Index, India topped every single sub-index category, including institutional centralised service value received, a new sub-index introduced in the 2025 methodology that replaced the retail DeFi sub-index, based on the 2025 Chainalysis Global Crypto Adoption Index.
- 7 of the top 20 countries in the Chainalysis 2024 Global Crypto Adoption Index were from the Central and Southern Asia and Oceania (CSAO) region, including India (1st), Indonesia (3rd), Vietnam (5th), Philippines (8th), Pakistan (9th), Thailand (16th), and Cambodia (17th), based on the 2024 Chainalysis Geography of Cryptocurrency Report.
India Crypto Transaction Volume Statistics
- India received an estimated $268.9 billion in on-chain crypto assets during the period July 2022 to June 2023, making it the second-largest cryptocurrency market globally by raw transaction volume, based on the 2023 Chainalysis Geography of Cryptocurrency Report.
- India ranked second in the CSAO region in terms of total cryptocurrency value received during the period July 2023 to June 2024, with the CSAO region accounting for more than $750 billion in crypto asset inflows, representing 16.6% of global value received, based on the 2024 Chainalysis Geography of Cryptocurrency Report.
- Asia-Pacific (APAC) on-chain crypto transaction volume surged 69% year over year in the 12 months to June 2025, rising from $1.4 trillion to $2.36 trillion, driven by India, Vietnam, and Pakistan, based on the 2025 Chainalysis Global Crypto Adoption Index.
- India’s on-chain value received remained above $185 billion per month through mid-2025, based on the 2025 Chainalysis APAC crypto adoption analysis.
- Total VDA transaction value in India reached Rs 51,283 crore (approximately $5.76 billion) in FY 2024-25, up 41% from Rs 36,270 crore in FY 2023-24 and Rs 22,130 crore in FY 2022-23, as implied by 1% TDS collection figures totalling Rs 511.83 crore, Rs 362.7 crore, and Rs 221.27 crore respectively across those fiscal years, based on a 2025 Rajya Sabha written reply by the Minister of State for Finance, Pankaj Chaudhary.
- Between the fourth quarter of 2023 and the first quarter of 2024, total global crypto activity increased substantially, reaching levels higher than those recorded during the 2021 bull market, based on the 2024 Chainalysis Global Crypto Adoption Index analysis.
VDA Tax Collections and TDS Statistics in India
- VDA TDS collections in India rose 41% from Rs 362.70 crore in FY 2023-24 to Rs 511.83 crore in FY 2024-25, based on government data reported in a 2025 written reply to Parliament by the Minister of State for Finance.
- Maharashtra led all states in VDA TDS collection for FY 2024-25 with Rs 293.4 crore, followed by Karnataka with Rs 133.94 crore, Delhi with Rs 28.33 crore, Rajasthan with Rs 15.48 crore, and Tamil Nadu with Rs 9.97 crore, based on a 2025 government data disclosure.
- Karnataka recorded the highest year-over-year growth in VDA TDS collections, with receipts rising 63.4% from approximately Rs 39 crore to Rs 133.94 crore between FY 2023-24 and FY 2024-25, based on government data reported in a 2025 parliamentary written reply.
- Delhi’s VDA TDS collections surged from Rs 0.99 crore in FY 2023-24 to Rs 28.33 crore in FY 2024-25, based on 2025 government data disclosed in a written parliamentary reply.
- Survey actions conducted against 3 crypto exchanges identified non-compliance with TDS provisions amounting to Rs 39.8 crore, with undisclosed income of Rs 125.79 crore additionally detected, based on a 2025 written reply to Rajya Sabha by the Minister of State for Finance, Pankaj Chaudhary.
- India’s Section 194S, in force from July 1, 2022, levies 1% TDS on VDA transfers exceeding Rs 50,000 per financial year (Rs 10,000 for certain taxpayers), and is applicable to both Indian exchange trades and peer-to-peer transactions where the buyer holds the deduction obligation, based on the Finance Act 2022 as administered by the Central Board of Direct Taxes.
India VDA Enforcement and PMLA Statistics
- CBDT search and seizure operations identified Rs 888.82 crore in undisclosed income linked to VDA transactions, based on a 2025 written reply to Lok Sabha by the Minister of State for Finance, Pankaj Chaudhary.
- India’s Enforcement Directorate attached, seized, or froze crypto-linked proceeds of crime totalling Rs 4,189.89 crore under PMLA, arrested 29 persons, filed 22 prosecution complaints, and declared 1 accused a Fugitive Economic Offender, based on a 2025 Lok Sabha written reply by the Minister of State for Finance.
- India’s government detected GST evasion of Rs 824.14 crore across 17 cryptocurrency exchanges, including Rs 722.43 crore attributed to Binance group entity Nest Services Limited, based on a 2024 written reply to Lok Sabha by the Minister of State for Finance, Pankaj Chaudhary.
- Of the Rs 824.14 crore in detected GST evasion from crypto exchanges, only Rs 122.29 crore including interest and penalties had been recovered as of December 2024, based on the Ministry of Finance’s written reply to Lok Sabha.
- FIU-IND imposed total penalties of Rs 28 crore on non-compliant VDA Service Providers during FY 2024-25, based on the FIU-IND Annual Report for FY 2024-25.
- India’s GST rate applicable to VDA platform services is 18%, categorised under HSN code 960899 for miscellaneous articles, applicable to entities with turnover exceeding Rs 40 lakh annually, based on the Ministry of Finance’s 2024 Lok Sabha written reply.
FIU-IND Exchange Registration and Compliance Statistics
- As of March 2025, 49 VDA Service Providers were registered as reporting entities with FIU-IND, comprising 45 onshore Indian exchanges and 4 offshore platforms, based on the FIU-IND Annual Report for FY 2024-25.
- FIU-IND issued notices to 25 offshore crypto exchanges including BingX, LBank, CoinW, CEX.IO, and Poloniex in October 2025 for failing to comply with India’s anti-money laundering registration requirements, based on reporting consistent with the FIU-IND compliance framework established under the PMLA 2023 amendment.
- Binance’s Indian group entity was fined Rs 18.82 crore (approximately $2.25 million) in June 2024 for operating without FIU-IND registration before completing its registration and resuming services, based on 2024 enforcement disclosures.
- VDA Service Providers registered under PMLA are required to submit Suspicious Transaction Reports to FIU-IND, determine beneficial ownership of wallets, monitor blockchain-based fundraising such as ICOs and ITOs, and track transfers between hosted and unhosted wallets, based on the Prevention of Money Laundering (Maintenance of Records) Rules as amended in March 2023.
CBDT Compliance and Reporting Statistics
- Under the CBDT NUDGE (Non-Intrusive Usage of Data to Guide and Enable) campaign, 44,057 communications were sent to taxpayers who invested or traded in VDAs but did not disclose these in Schedule VDA of their ITRs, based on a 2025 written reply to Rajya Sabha by the Minister of State for Finance, Pankaj Chaudhary.
- India’s CBDT uses Project Insight and the Non-Filer Monitoring System to cross-reference TDS returns filed by VASPs with individual ITR disclosures, identifying taxpayers with unreported VDA income, based on the 2025 written reply to Parliament by the Minister of State for Finance.
- India’s Schedule VDA was introduced in ITR forms from Assessment Year 2023-24 onward, requiring mandatory disclosure of each VDA transfer including acquisition date, transfer date, consideration received, cost of acquisition, and resulting income, based on CBDT ITR notification for AY 2023-24.
- Under Section 115BBH of the Income Tax Act, as introduced by the Finance Act 2022, income from the transfer of VDAs is taxed at a flat rate of 30% with no deduction permitted other than cost of acquisition, and losses from one VDA cannot be set off against gains from another or against any other income, based on the Finance Act 2022.
OECD CARF and International Crypto Reporting Framework
- India committed to implementing the OECD Crypto-Asset Reporting Framework (CARF) from April 1, 2027, requiring VDA Service Providers to collect and report annual transaction data for automatic exchange with partner jurisdictions, based on a 2025 Ministry of Finance official disclosure.
- As of November 28, 2025, 52 jurisdictions had committed to commencing CARF exchanges by 2027, and 15 additional jurisdictions had committed to exchanges by 2028, based on the OECD Global Forum’s 2025 CARF Monitoring and Implementation Update.
- India signed on to CARF and will begin sharing and receiving cross-border crypto transaction data from April 2027, with the technical data exchange format being finalised as of early 2026, based on a 2026 Ministry of Finance official disclosure reported by Business Standard.
- India signed an existing Multilateral Competent Authority Agreement for financial account data in 2015 but requires a separate MCAA under CARF to cover crypto assets, with the signing of the crypto-specific agreement planned for 2026, based on a 2025 Ministry of Finance official statement.
CSAO and APAC Regional Context Statistics
- The CSAO region accounted for more than $750 billion in crypto asset inflows between July 2023 and June 2024, representing 16.6% of global on-chain value received, ranking third globally behind North America and Western Europe, based on the 2024 Chainalysis Geography of Cryptocurrency Report.
- The APAC region recorded 69% year-over-year growth in on-chain crypto transaction volume in the 12 months ending June 2025, the fastest growth rate of any region globally, compared to 49% growth in North America and 42% in Europe during the same period, based on the 2025 Chainalysis Geography of Cryptocurrency Report.
- North America and Europe led absolute transaction volumes in the 12 months ending June 2025, with $2.2 trillion and $2.6 trillion respectively, compared to APAC’s $2.36 trillion, based on the 2025 Chainalysis Geography of Cryptocurrency Report.
- Japan recorded the fastest year-over-year growth in on-chain value received among top APAC markets in the 12 months to June 2025 at 120%, followed by Indonesia at 103%, South Korea at 100%, India at 99%, and Vietnam at 55%, based on the 2025 Chainalysis APAC crypto adoption report.
- Indonesia’s cryptocurrency value received reached approximately $157.1 billion in the CSAO region during July 2023 to June 2024, the highest in the region, while India ranked second in regional value received despite ranking first globally on the Adoption Index, based on the 2024 Chainalysis Geography of Cryptocurrency Report.
References
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