Et

🔥🔥🔥India strengthens cryptocurrency regulation: Real-time selfie verification and 30% tax rate implemented simultaneously

The recent cryptocurrency regulatory update issued by India's Financial Intelligence Unit (FIU) marks a substantial step toward formal oversight in the digital asset space. The new rules require cryptocurrency exchanges to implement multi-layered identity verification during user registration, including real-time selfie verification, geolocation validation, and bank account linking, aiming to build a safer financial ecosystem.
Identity Verification Upgrade: AI Deepfake Defense System
The core innovation of the new rules lies in the introduction of dynamic biometric verification. Users must complete identity verification through real-time selfies, with the system employing computer vision technology to track eye movement and subtle head movements, effectively identifying AI-generated deepfakes. This technological approach significantly enhances the reliability of identity authentication; FIU test data shows the system can block 99.7% of synthetic image attacks.
Regulatory Framework Enhancement: From KYC to Tax Compliance
Platforms must simultaneously collect users' IP addresses, device fingerprints, and other digital footprints, cross-referencing them with government-issued identity databases. The bank account linking requirement establishes a mechanism for tracking fund flows. Indian tax authorities specifically noted that the cross-border nature of cryptocurrency payments results in approximately $1.2 billion in annual tax losses, and the new rules are expected to significantly improve this situation.
30% Capital Gains Tax Policy Considerations
Under Section 115BBH of India's Income Tax Act, profits from cryptocurrency transactions are subject to a fixed 30% tax rate (without expense deductions). This simplified, progressive tax approach reflects a cautious stance toward emerging assets while avoiding complex tax disputes. Tax experts analyze that this rate design balances fiscal revenue with industry incentives.
Industry Impact and Future Outlook
After the implementation of the new rules, daily trading volume on Indian cryptocurrency exchanges dropped by approximately 40%, yet user retention rates on compliant platforms have significantly improved. Regulatory authorities stated that a sandbox mechanism will be established to evaluate policy effectiveness, with a revised regulatory framework possibly introduced by the third quarter of 2026. These measures provide an important reference for developing countries in regulating digital assets 💥
#币安上线币安人生 #加密市场观察 #IndiaCryptocurrency