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In preparation for a potential reactivation of the WazirX platform (which remains subject to the Singapore High Court’s sanction of the creditor-approved Scheme of Arrangement), we’re rolling out a mandatory Re-KYC process. This Re-KYC Process is in line with the latest directives issued by the Financial Intelligence Unit (FIU-IND) in accordance with provisions of the Prevention of Money Laundering Act (PMLA 2002).
Please note that this is not just a WazirX initiative — periodic Re-KYC is a government-mandated compliance requirement applicable to all crypto exchanges in India. All users are highly encouraged to complete your Re-KYC as soon as possible, without which your access to certain platform functionality may be limited. More information will be provided in respect of functionality limitations associated with incomplete re-KYC in due course.
Please refer to the KYC Policy for more details.
Re-KYC Process Overview
We need platform users to complete the Re-KYC process to ensure compliance with applicable laws.
Here’s how to complete the Re-KYC process.
Open the WazirX app; a pop-up will prompt you to “Complete Your KYC.”
You will have two options:
- UPDATE NOW
- SKIP FOR NOW
a. If you select UPDATE NOW, you will be redirected to the following screen, where you’ll see two options – Correct and Incorrect.
b. If you select SKIP FOR NOW, you can continue using the app as usual, subject to certain functionality limitations for which more detail will be provided in due course. Otherwise, at your convenience, you can head to the “Settings” section and click on the “Complete Your KYC” banner to initiate the process.
What Happens Upon Clicking ‘UPDATE NOW’?
Once you click ‘Update Now,’ you will be redirected to a page where you can see the KYC details you shared earlier, along with two options: Correct and Incorrect.
Case 1 – When to Click “Correct”
If all details are accurate, click ‘Correct’ to proceed.
As next steps, you’ll have to do:
- Selfie Verification
- Share basic information (like occupation, etc)
- Self-Declaration.
Upon clicking “CONFIRM AND PROCEED,” your status will now show as “Re-KYC Under Review”. Submissions are generally reviewed within 24 hours.
Case 2 – When to Click “Incorrect”
In case of any changes in basic KYC details provided earlier, click ‘Incorrect.’
You will be redirected to the following screen where you’ll have to resubmit your updated basic KYC details (including PAN, Passport, etc), followed by selfie verification, basic information, and self-declaration.
Once done, your status will now show as “KYC Under Review” – generally reviewed within 24 to 48 hours.
Re-KYC Timeline & Reminders
The Re-KYC process is an annual requirement for all platform users. We are committed to making this process as simple and seamless as possible.
To ensure a hassle-free trading experience, next year onwards, we will remind you 30 days in advance to reconfirm your details.
By keeping your KYC up-to-date, you help maintain the safety and compliance of the platform while continuing to enjoy seamless trading.
👉 Open the WazirX app and complete your Re-KYC today.
We appreciate your cooperation in helping us maintain a secure and compliant crypto platform. 🙏
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
