{"id":14765,"date":"2023-03-09T15:21:00","date_gmt":"2023-03-09T15:21:00","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law"},"modified":"2023-03-09T15:21:00","modified_gmt":"2023-03-09T15:21:00","slug":"indias-crypto-sector-brought-under-anti-money-laundering-law","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law","title":{"rendered":"India\u2019s crypto sector brought under anti-money laundering law"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>The Indian government has subjected all trade in cryptocurrencies to the 2002 Prevention of Money Laundering Act (PMLA).<\/p>\n

In a notification issued Wednesday, the Finance Ministry said the exchange and transfer of virtual digital assets will come under the laws of the PMLA.<\/p>\n

According to the act, financial institutions must keep records of all transactions and provide this information when sought by the authorities.<\/p>\n

The notification said the PMLA also applies to financial services connected to an issuer\u2019s offer and sale of virtual assets.<\/p>\n

A \u201cvirtual digital asset\u201d has been termed as any information, code, number or token that is generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, according to the notification.<\/p>\n

The government has warned investors against participating in transactions involving virtual digital assets.<\/p>\n

It has been trying to regulate the cryptocurrency market in the country.<\/p>\n

India\u2019s Enforcement Directorate, which is responsible for enforcing economic laws and fighting economic crime, is already investigating money laundering and forex violation cases against many crypto companies.<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. The Indian government has subjected all trade in cryptocurrencies to the 2002 Prevention of Money Laundering Act (PMLA). In a notification issued Wednesday, the Finance Ministry said the exchange and transfer of virtual digital assets will come under the laws of the PMLA. According to the act, financial institutions must keep records […]<\/p>\n","protected":false},"author":84,"featured_media":14764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[242,243,233],"class_list":["post-14765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nIndia\u2019s crypto sector brought under anti-money laundering law - Eritrea<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India\u2019s crypto sector brought under anti-money laundering law\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Eritrea. The Indian government has subjected all trade in cryptocurrencies to the 2002 Prevention of Money Laundering Act (PMLA). In a notification issued Wednesday, the Finance Ministry said the exchange and transfer of virtual digital assets will come under the laws of the PMLA. According to the act, financial institutions must keep records […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-09T15:21:00+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"India\u2019s crypto sector brought under anti-money laundering law\",\"datePublished\":\"2023-03-09T15:21:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law\"},\"wordCount\":199,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/03\/Kakuti1678362827.338374coin.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Eritrea\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/indias-crypto-sector-brought-under-anti-money-laundering-law\",\"name\":\"India\u2019s crypto sector brought under anti-money laundering law - 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