India cracks down on anonymous crypto, tightens rules for private tokens
India just rolled out stricter crypto rules, aiming to curb money laundering and terror financing.
The Financial Intelligence Unit now wants exchanges and companies to block transactions involving certain "anonymity-enhancing" cryptocurrencies—basically, the ones that make it super hard to trace who's behind the money.
What else is changing?
The new guidelines also put self-custody wallets and unhosted wallets under the microscope.
Companies have to monitor for shady activity using tools that spot things like crypto mixers and tumblers.
If you're using a hosted wallet, get ready to share more details about where your funds come from and where they're going.
Central bank digital currencies (like the Digital Rupee) are off the hook for now, but private cryptos face extra checks—including mandatory cybersecurity audits by Indian authorities.