Live selfies, geo-tagging now must for crypto users

In an effort to eliminate illegal activity in the digital asset market, India’s Financial Intelligence Unit (FIU) has unveiled new Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols for cryptocurrency exchanges, including mandatory liveness detection and geographical tracking during the onboarding process.

The updated guidelines, issued on January 8, classify crypto exchanges as Virtual Digital Asset (VDA) service providers who will now have to do more than just allow simple document uploads.