CoinWorld News, January 12 — The Indian Financial Intelligence Unit (FIU) has issued new guidelines tightening the registration rules for users on cryptocurrency platforms. The new regulations require regulated cryptocurrency exchanges to verify user identities through real-time selfie photos and geolocation verification. The real-time selfies can track users' eye and head movements to prevent the use of AI deepfake technology to bypass KYC verification processes. Additionally, Indian trading platforms must collect geolocation and IP address data, as well as timestamps of account creation. Users now need to submit additional government-issued photo ID proofs and verify their email and mobile numbers before creating an account on a cryptocurrency trading platform.
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CoinWorld News, January 12 — The Indian Financial Intelligence Unit (FIU) has issued new guidelines tightening the registration rules for users on cryptocurrency platforms. The new regulations require regulated cryptocurrency exchanges to verify user identities through real-time selfie photos and geolocation verification. The real-time selfies can track users' eye and head movements to prevent the use of AI deepfake technology to bypass KYC verification processes. Additionally, Indian trading platforms must collect geolocation and IP address data, as well as timestamps of account creation. Users now need to submit additional government-issued photo ID proofs and verify their email and mobile numbers before creating an account on a cryptocurrency trading platform.