India Tightens KYC Requirements for Cryptocurrency User Registration

BlockBeats News, January 12, the Indian Financial Intelligence Unit (FIU) has issued new guidelines tightening user registration rules for cryptocurrency platforms. The new regulations require regulated cryptocurrency exchanges to verify user identities through real-time selfies and geolocation. The real-time selfie can track users' eye and head movements to prevent the use of AI deepfake technology to bypass KYC verification processes.

In addition, Indian exchanges are now required to collect geolocation and IP address information, as well as a timestamp of account creation, during the account registration process. Users must now submit additional government-issued photo identification and verify their email and mobile phone numbers in order to create an account on a cryptocurrency trading platform.