India Enhances Crypto Regulations to Combat Financial Crimes

India introduces tougher identity checks for cryptocurrency exchanges to curb money laundering and terrorism financing efforts.

The Financial Intelligence Unit of India has unveiled new, stringent identity verification protocols aimed at cryptocurrency exchanges. These updated regulations are part of a broader strategy to combat money laundering and the funding of terrorist activities.

Under the revised guidelines, exchanges will be required to implement more rigorous Know Your Customer (KYC) processes. This move is intended to enhance transparency and ensure that the crypto market is not exploited for illicit financial activities.