India’s FIU introduces stricter KYC and AML regulations for crypto platforms to combat fraud and money laundering. Compliance burdens may hinder smaller platforms and innovation. The new rules, effective Jan. 8, require live selfies, geo-tagging, and liveness detection. Exchanges must conduct bank verification, periodic KYC updates, and cybersecurity audits. Compliance costs and complexity may impact smaller exchanges, leading to consolidation or exits. User onboarding friction may slow growth and reduce transaction volumes in the short term.

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