New FIU Rules Raise the Compliance Bar for Crypto Exchanges

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Beyond biometric checks, India’s FIU now requires crypto exchanges to verify users’ bank accounts through small test transactions to meet anti-money laundering (AML) standards. Users must also submit additional government-issued photo identification and verify both email addresses and mobile phone numbers before gaining access to trading services.

These measures underscore India’s cautious regulatory approach toward digital assets, even as the country represents one of the world’s largest potential crypto markets. With a population exceeding 1.4 billion, bringing Indian users onchain could unlock significant capital inflows — but only within a tightly controlled compliance framework.

[chainsniff]

test transactions + selfies + ids is a lot, but i guess thats the price of compliance