
India’s Financial Intelligence Unit has strengthened KYC guidelines for crypto platforms, requiring enhanced onboarding measures to bolster anti-money laundering compliance.
India’s Financial Intelligence Unit has updated its onboarding guidance for cryptocurrency platforms, tightening know-your-customer requirements. New measures include dynamic selfie checks with movement tracking, geolocation data collection, Permanent Account Number submission, and enhanced due diligence every six months for high-risk accounts. These steps expand existing protocols of recording IP addresses, timestamps, government IDs, emails, and phone verifications prior to account creation, aiming to curb money laundering and terrorist financing.