India's Crypto Businesses Handed Anti-Money Laundering Obligations for First Time

India imposes money laundering provisions on cryptocurrencies

This follows the global trend of requiring digital-asset platforms to follow anti-money laundering standards similar to those followed by other regulated entities like banks or stock brokers.

Centre imposes money laundering provisions on cryptocurrencies

The government has imposed money laundering provisions on cryptocurrencies or virtual assets as it looks to tighten oversight of digital assets.

India's Crypto Businesses Handed Anti-Money Laundering Obligations for First Time

They will have to register with the Financial Intelligence Unit and voluntarily report suspicious activities.

Crypto transactions to come under anti-money laundering laws

Crypto industry has lauded the move

India’s money laundering rules to apply to crypto trade, says govt notification

The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws, the notification said.

Crypto Transactions, Virtual Assets To Come Under Money Laundering Act

The ministry warned investors against "participation in and provision of financial services related to an issuers offer and sale of a virtual digital asset."