MUMBAI : India's money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7.The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets w
MUMBAI : India's money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7.
The safekeeping or administration of virtual digital assets and the participation in financial services related to the offer and sale of virtual digital assets will also be covered, the notification added. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme.
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