India FIU Issues January 8 VDA KYC Update: Live ID, PAN and Geolocation Required

On January 8, India's Financial Intelligence Unit issued updated guidelines that classify crypto exchanges as VDA service providers and tighten AML/KYC. Platforms must conduct live ID checks, collect PAN, IP and geolocation data, and verify bank accounts via penny-drop. Exchanges welcomed clearer compliance, while the framework mandates five-year record retention and tools to detect mixers.