---
type: free_zone
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "south_asia", "fatf", "legal"]
aliases: ["GIFT", "IND-GIFT", "GIFT City"]
created: 2026-04-13
updated: 2025-09-15
compile_into: ["[[country--india]]"]
sources:
  - name: "IFSCA"
    url: "https://www.ifsca.gov.in"
    type: "official"
  - name: "SEBI"
    url: "https://www.sebi.gov.in"
    type: "official"
---

#  GIFT City IFSC (International Financial Services Centre) (GIFT) — Crypto Regulation

> GIFT City IFSC operates under the unified regulatory framework of the International Financial Services Centres Authority (IFSCA), which provides a clear and comprehensive regulatory environment for financial services including crypto assets. The IFSCA Virtual Digital Asset Sandbox facilitates innovation in digital assets within a regulated framework.

## Overview

| Field | Value |
|-------|-------|
| Status | Legal |
| Sub-jurisdiction of | [[country--india|India]] |
| Risk Score | 30/100 (Moderate Risk) |
| Enforcement Level | Moderate |
| Region | [[domain--asia-pacific|south asia]] |
| Currency | [[entity--inr|INR]] |

## Tax

| Type | Rate |
|------|------|
| VAT on Crypto | No |

The regulator page does not specify detailed crypto tax rates or rules, but indicates no VAT on crypto transactions within the IFSC.

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | [[entity--ifsca|IFSCA]] |
| Framework | IFSCA (Finance Company) Regulations 2021; IFSCA Virtual Digital Asset Sandbox |
| Ease | medium |
| Cost | $10,000 - $75,000 |
| Timeline | 3-9 months |

Licensing is governed by IFSCA regulations with a sandbox framework for virtual digital assets to encourage innovation while ensuring compliance.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| [[concept--fatf|FATF]] Member | No |
| FATF Status | fsrb_only |

## DeFi

**Status:** regulated

DeFi activities are regulated under the IFSCA framework, with sandbox provisions allowing controlled experimentation and compliance.

## Stablecoins

**Status:** regulated

Stablecoins are regulated under the IFSCA framework, ensuring compliance with financial regulations applicable to digital assets.

## NFTs

**Status:** no_rules

No specific NFT regulation

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.08/kWh |
| Renewable Energy | 20% |
| Climate | temperate |
| Infrastructure | good |

Mining is legal within GIFT City IFSC with competitive electricity costs and a moderate renewable energy mix. Infrastructure supports financial and tech services well.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | stable |
| Sanctions | No |
| Corruption Index | 40/100 |
| Ease of Business | moderate |
| Internet Freedom | partly_free |
| Banking Access | moderate |

## Enforcement

Enforcement focused on unlicensed operators and consumer protection

## CBDC Status: pilot

---

*Data source: [Soken Crypto Legal Map](https://soken.io/crypto-map/). Last reviewed: 2026-04-13.*

**Sources:**
- [IFSCA](https://www.ifsca.gov.in)
- [SEBI](https://www.sebi.gov.in)