The government has bought a range of cryptocurrencies or virtual digital asset (VDA) transactions under the ambit of Prevention of Money Laundering Act (PMLA), 2002.
In a notification, Ministry of Finance said that the exchange between VDA and fiat currencies; the exchange between one or more forms of VDA; and the transfer of VDA will be covered under money laundering act.
Besides, the safekeeping or administration of VDA and the participation in financial services related to the offer and sale of VDA will also come under the preview of the Act.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
