Crypto rules tightened: Live selfies, geo-tagging mandatory for users; FIU rolls out tougher KYC norms

India's Financial Intelligence Unit has mandated stringent AML/KYC norms for crypto exchanges, requiring live selfie verification and geographical tracking during user onboarding. These new rules classify exchanges as VDA service providers and aim to enhance transparency and combat illicit financial activities.

Crypto rules tightened: Live selfies, geo-tagging mandatory for users; FIU rolls out tougher KYC norms
India's Financial Intelligence Unit has mandated stringent AML/KYC norms for crypto exchanges, requiring live selfie verification and geographical tracking during user onboarding. These new rules classify exchanges as VDA service providers and aim to enhance transparency and combat illicit financial activities.