India subjects crypto transactions to Anti-Money Laundering law By Cointelegraph
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While there’s nothing new in imposing Anti-Money Laundering (AML) standards on crypto, it is only now that the Indian government has decided to notify all interested parties of the obligation to comply with the national AML law.
On March 7, The Gazette of India published a notification from the Ministry of Finance, subjecting a range of crypto transactions to the Prevention of Money-Laundering Act (PLMA) 2002 — namely the exchange, transfers, safekeeping and administration of virtual assets. Financial services related to an issuer’s offer and sale of virtual assets also fall under the PMLA.
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While there’s nothing new in imposing Anti-Money Laundering (AML) standards on crypto, it is only now that the Indian government has decided to notify all interested parties of the obligation to comply with the national AML law.
On March 7, The Gazette of India published a notification from the Ministry of Finance, subjecting a range of crypto transactions to the Prevention of Money-Laundering Act (PLMA) 2002 — namely the exchange, transfers, safekeeping and administration of virtual assets. Financial services related to an issuer’s offer and sale of virtual assets also fall under the PMLA.
Continue Reading on Coin Telegraph
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