Is LBank available in India?
LBank is not registered as a reporting entity with the Financial Intelligence Unit India (FIU). On 7 October 2025 the FIU named LBank among offshore platforms that received non compliance notices under the Prevention of Money Laundering Act, with directions to take down apps, websites, and URLs operating without compliance. Treat LBank as not available to residents of India through a compliant route.
Information, not advice. This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.
How we checked this. We set this status by reading the platform's own terms of use and country eligibility, and the public register kept by the named regulator, then dated the result. Availability can change, so confirm directly with the platform and the regulator before acting. As of 26 June 2026.
As of 26 June 2026, LBank is not registered as a reporting entity with the Financial Intelligence Unit India (FIU), the agency within the Ministry of Finance that supervises virtual digital asset service providers under the Prevention of Money Laundering Act. On 7 October 2025 the FIU issued non compliance notices to 25 offshore platforms, including LBank, and directed the takedown of apps, websites, and URLs operating illegally without registration. Treat LBank as not available to residents of India through a compliant route and verify the current position before acting.
Availability for India residents
India regulates crypto for anti money laundering purposes by treating virtual digital asset service providers as reporting entities under the Prevention of Money Laundering Act. The supervisor is the Financial Intelligence Unit India, known as FIU, which sits within the Ministry of Finance. The obligation to register applies to any platform serving Indian users, whether based in India or offshore, and does not depend on a physical presence in the country.
As of 26 June 2026, LBank is not registered with the FIU. On 7 October 2025 the FIU issued non compliance notices to 25 offshore virtual digital asset service providers, and LBank was named on that list, alongside platforms such as Bitrue, BingX, and CoinW. The notices were accompanied by directions to take down the apps, websites, and URLs of platforms operating illegally without complying with the Prevention of Money Laundering Act.
This followed earlier action in which India blocked access to several unregistered offshore exchanges and saw their apps removed from Indian app stores. Because LBank is not registered with the FIU and has been named for non compliance, the compliant route is treated here as not available, and the position should be confirmed directly with the regulator.
Access, KYC, and products
LBank is a global crypto exchange that offers spot and derivatives trading. It is a custodial platform, which means it holds the assets in an account on the user behalf rather than giving the user the private keys, and it requires identity verification, known as know your customer, before trading.
In India the practical barrier is registration and access. A platform serving Indian users must register with the FIU and meet reporting and record keeping duties, and unregistered offshore platforms can have their apps and websites blocked. Because LBank is not registered and has been named for non compliance, residents should treat access as not available through a compliant route and confirm the regulatory position rather than the day to day mechanics.
How crypto is taxed in India
India taxes income from virtual digital assets, with the Income Tax Department as the tax authority. A flat 30 percent tax applies to gains from transferring virtual digital assets, with no offset for losses, and a 1 percent tax deducted at source applies to transfers above the relevant threshold. A goods and services tax can also apply to exchange services.
These rules are among the strictest in the world and can change, so confirm the current treatment with the Income Tax Department or a qualified adviser. See the India crypto tax page for a fuller explanation. This is general information, not tax advice (as of 26 June 2026).
Regulator and sources
The India supervisor for crypto under the anti money laundering framework is the Financial Intelligence Unit India, and tax is administered by the Income Tax Department. The position below is stated as of 26 June 2026 and should be confirmed on the primary sources.
- Financial Intelligence Unit India (FIU) and Ministry of Finance, notices on virtual digital asset service provider registration under the Prevention of Money Laundering Act.
- Ministry of Finance statement of 7 October 2025 naming 25 offshore platforms, including LBank, that received non compliance notices and takedown directions.
- Reporting that India blocked access to unregistered offshore exchanges and that their apps were removed from Indian app stores.
- Income Tax Department, guidance on the taxation of income from virtual digital assets in India.
Frequently asked questions
Is LBank available in India?
As of 26 June 2026, LBank is not registered with the Financial Intelligence Unit India and was named on 7 October 2025 among offshore platforms receiving non compliance notices and takedown directions. Treat it as not available through a compliant route and verify the position.
Is LBank registered with the FIU?
No. As of 26 June 2026, LBank does not appear as a registered reporting entity with the Financial Intelligence Unit India, which a platform serving Indian users is required to be.
Is it legal to own crypto in India?
Yes. Holding, buying, and selling crypto is legal in India, although it is heavily taxed and unregulated as an asset class. The open question on this page is the registration of the LBank platform, not whether owning crypto is allowed.
Why did the FIU act against offshore platforms?
The FIU issued notices to 25 offshore virtual digital asset service providers on 7 October 2025 for operating without registration under the Prevention of Money Laundering Act, with directions to take down non compliant apps, websites, and URLs.
How is crypto taxed in India?
India applies a flat 30 percent tax on gains from transferring virtual digital assets, with no loss offset, plus a 1 percent tax deducted at source on qualifying transfers, overseen by the Income Tax Department. See the India crypto tax page. This is general information, not tax advice.
Where can I confirm the current position?
Check the Financial Intelligence Unit India and Ministry of Finance notices and LBank own published updates. Those primary sources are the most current way to confirm availability before acting.
Rules change frequently. Exchange availability and registrations can change at short notice, and India has actively blocked unregistered offshore platforms. The status could change if LBank registers with the FIU. The position on this page is dated 26 June 2026. Confirm the current status with the Financial Intelligence Unit India and the platform before you act.
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