New Delhi, Jan 11 (PTI) In an effort to eliminate illegal activity in the digital asset market, India's Financial Intelligence Unit (FIU) has unveiled stringent 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 and accessed by PTI, classify crypto exchanges as Virtual Digital Asset (VDA) service providers who will now have to do more than just allow simple document uploads. Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement.
