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Govt brings crypto trading under anti-money laundering provisions
Image Cr: Unsplash

Govt brings crypto trading under anti-money laundering provisions

| @indiablooms | 08 Mar 2023, 11:31 pm

New Delhi: The government has brought the cryptocurrency industry under anti-money laundering regulations as part of its ongoing efforts to strengthen legal control over digital assets.

In a notice on Tuesday, the Finance Ministry said anti-money laundering laws will be applicable to crypto trading, safekeeping, and related financial services.

In the previous year, India implemented stricter tax regulations on the cryptocurrency industry, which included imposing a tax on trading. These measures, along with a worldwide decline in digital asset values, resulted in a sharp drop in domestic trading activity.

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