OpenRate Research
Everything we've learned about P2P crypto in India
102 articles on tax, regulation, exchange specifics, payment rails, arbitrage, and how to avoid the scams that show up on every UPI receipt screenshot.
Is Binance SEBI registered? (2026)
No — Binance is not SEBI registered, and it doesn't need to be. SEBI regulates securities; crypto exchanges register with FIU-IND under PMLA, which Binance did in 2024.
What is RBI's stance on crypto in India? (2026)
RBI is cautious on private crypto and prefers its own Digital Rupee (e₹). It cannot legally ban P2P trading; the Supreme Court struck that down in 2020.
FIU-IND crypto exchange registration: full list and what it means (2026)
49 crypto exchanges are FIU-IND registered as of FY 2024-25. The regulator imposed ₹28 crore in penalties and notices on 25 non-compliant offshore platforms.
Does FEMA apply to crypto?
FEMA was written for forex; whether USDT counts as 'foreign exchange' is unsettled. The grey area matters most for cross-border crypto flows.
Is Binance legal in India? (2026 update)
Yes. Binance is registered with FIU-IND under PMLA, deducts 1% TDS, and operates legally for Indian residents. Cash payments on P2P were discontinued in 2024.
What is WazirX's status after the 2024 hack?
WazirX was hit with a $235 million wallet exploit in July 2024 and has been in restructuring since. Here's where things stand for users.
Is P2P trading anonymous in India?
No. KYC, FIU reporting, and bank-side AML signals make P2P traceable end-to-end. The 'anonymous crypto' image doesn't apply to Indian P2P.
KYC tiers on Binance and Bybit — what changes at each level
Higher KYC = higher daily P2P limits, lower fees, access to merchant programs. Here's what each tier unlocks for Indian users.
What is PMLA and why does it cover crypto now?
Prevention of Money Laundering Act 2002 was extended to VDA service providers in 2023. It's now the dominant compliance regime for Indian crypto.
What is the G20 crypto framework and how does it affect India?
The IMF-FSB synthesis paper from India's G20 presidency set the international template for crypto regulation. India is implementing it piece by piece.
RBI's Digital Rupee vs USDT — what's the difference?
Digital Rupee is INR issued by RBI on a private blockchain. USDT is USD-pegged stablecoin issued by Tether. They solve different problems.