Centre brings crypto assets under PMLA, wrongdoing can be probed by ED

India, as G20 president, is looking to drive the narrative on dangers of cryptos

The central government has brought the trading of cryptocurrency and digital assets within the ambit of the Prevention of Money Laundering Act (PMLA) through a gazette notification. The move comes even as the legislation to govern the cryptocurrency sector is still awaited, and at a time when India — as Group of 20 (G20) President — is looking to drive the narrative among global leaders and regulators on the dangers of crypto–currency.

This means that any financial wrongdoing involving cryptocurrency assets can now be investigated by the Enforcement Directorate. In a gazette notification dated March 7, the Ministry of Finance’s Department