India tightens KYC requirements for crypto user onboarding
India has implemented stricter Know Your Customer (KYC) requirements for onboarding cryptocurrency users, aiming to enhance regulatory oversight and prevent illicit activities. The new rules mandate that crypto exchanges and service providers verify the identity of users through government-issued identification and additional documentation. These measures are part of a broader effort by the Indian government to regulate the cryptocurrency sector and ensure compliance with anti-money laundering (AML) standards. The changes are expected to impact both domestic and foreign crypto platforms operating in India, increasing operational costs and compliance burdens.
Read the full article: Coin Telegraph