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Whereas there’s nothing new in imposing Anti-Cash Laundering (AML) requirements on crypto, it’s only now that the Indian authorities has determined to inform all events of the duty to adjust to the nationwide AML regulation.
On March 7, The Gazette of India printed a notification from the Ministry of Finance, subjecting a variety of crypto transactions to the Prevention of Cash-Laundering Act (PLMA) 2002 — particularly the change, transfers, safekeeping and administration of digital property. Monetary providers associated to an issuer’s provide and sale of digital property additionally fall below the PMLA.
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