India’s FIU mandates live‑selfie KYC, geolocation and tougher crypto checks

Beincrypto reports India’s Financial Intelligence Unit has introduced stricter compliance requirements for cryptocurrency platforms, mandating live selfie authentication and geographic location data during user onboarding. The rules require live selfie verification with dynamic movement, such as eye‑blinking or head turns, to prevent static images or deepfakes, and platforms must collect latitude, longitude, date, timestamp and IP address at sign‑up, the Times of India noted.

Exchanges must also expand documentation beyond a Permanent Account Number (PAN) to include a secondary ID such as a passport, Aadhaar or voter ID, and verify email addresses and mobile numbers with one‑time passwords; a penny‑drop bank transaction of 1 rupee will be used to confirm account ownership.

Users flagged as high‑risk — including those with ties to tax havens, jurisdictions on FATF grey or blacklists, politically exposed persons or non‑profit entities — will face enhanced checks and KYC updates every six months instead of annually, and exchanges must apply enhanced due diligence.

Key Topics

Crypto, India, Financial Intelligence Unit, Cryptocurrency Exchanges, Live Selfie Verification, Aadhaar