India's Financial Intelligence Unit (FIU) has implemented stricter Anti-Money Laundering (AML) and Know Your Customer (KYC) rules for cryptocurrency exchanges. New mandates include live selfie verification with liveness detection, geo-location tracking, and IP address recording during user onboarding. The 'penny-drop' method for bank account verification is also required. These measures aim to curb illicit transactions, money laundering, and terror financing, while also discouraging risky ICOs and ITOs.