The Dubai Financial Services Authority has shifted responsibility for crypto token suitability assessments from regulators to licensed companies operating in the Dubai International Financial Centre.$BTC
India has just issued new regulations requiring crypto exchanges to verify users more strictly to combat money laundering.
The new regulations require users, when opening an account, to: - Take a live selfie, with motion checks to prevent deepfakes. - Provide geographic location and IP address. - Verify bank account through small transactions. - Provide identification documents, email, and phone number.
These measures aim to strengthen KYC/AML, limit anonymous accounts, and fraud.
According to current law, profits from crypto are taxed at 30%, with no deductions for losses from other transactions, making compliance and monitoring even more complex.$BTC $ETH