Crypto outfits in India must get customer locations, selfies • The Register
India’s government has updated the regulations it imposes on cryptocurrency services providers, as part of its efforts to combat fraud, money laundering, and terrorism.
The nation’s Financial Intelligence Unit (FIU-IND) recently posted updated guidelines [PDF] that require all crypto players who serve Indian residents – even operations outside India – to register and name certain officers, their place of business, and detail “significant business ownership etc.”
The revised guidance requires registered crypto outfits (REs) to implement strict client due diligence measures, at least for new customers, that require them to collect details of customers’ identity documents, bank account details, occupation, and even income…
