India’s crypto exchanges are developing a policy that would enable transfers only after the sender exposes the identities of the people behind a private wallet that receives the cryptos. Buyers and sellers’ identities are normally known in crypto trades as long as they are clients of local exchanges that collect identification documents as part of the standard know-your-customer process. However, there is no mechanism for determining the identity of a private wallet owner, nor is there any rule prohibiting a person from transferring cryptos held in the wallet of an exchange in India to the private wallet of someone else, who could be a foreign national.