All Indian crypto transactions have been brought under the purview of the Prevention of Money Laundering Act (PMLA) of 2002 by the government. Indian Crypto Transactions to Be Governed By The PMLA As per a notification issued by the Finance Ministry on Wednesday, the exchange and transfer of virtual digital assets will now be governed by the PMLA. The act requires financial institutions to maintain records of all transactions and provide them to the authorities when requested. The notification clarifies that the PMLA is also applicable to financial services related to the sale and issuance of virtual assets. Increased Scrutiny The post Indian Crypto Transactions to Be Subjected to Anti-Money Laundering Law appeared first on Cryptoknowmics-Crypto News and Media Platform .
