Crypto In Crosshairs: India’s Latest Anti-Money Laundering Measures Shake Industry
India Cracks Down on Crypto with New Money Laundering Provisions Last year’s stringent tax rules on cryptocurrency trading in India were just the beginning. Read about the latest anti-money laundering provisions and how they may impact businesses operating in the sector.
India has tightened oversight of the cryptocurrency sector by imposing money laundering provisions. As per Bloomberg, the Finance Ministry announced on Tuesday that anti-money laundering legislation will now apply to crypto trading, safekeeping, and related financial services. This move by India aligns with a global trend requiring digital-asset platforms to follow anti-money laundering standards like those followed by other regulated entities such as banks or stock brokers. Last year, India implemented more stringent tax rules on the crypto sector, including applying a levy on trading.
Source
https://t.me/Crypto_Futures_Trading
