Live
- Abhishek Reddy Campaigns for Father's Victory in Udayagiri Constituency"
- MLA Mekapati Vikram Reddy says people eagerly waiting for Jagananna's Manifesto"
- MLA Candidate Satya Kumar Yadav Welcomes 50 Families to BJP, Credits Party for Global Recognition of India"
- NDA Alliance Candidate Badeti Radhakrishnaiah (Chanti) Campaigns in Eluru Constituency with Bicycle Symbol"
- TDP Is the only party that stands by farmers, says NDA alliance candidate Julakanti
- "Mana Kosam Mana Nayakkar Program Organized in Narasapuram Constituency by Janasena, TDP and BJP Parties"
- Keshineni Shivnath Leads Major Additions to TDP as City Celebrities Join in Support
- Srikakulam: TDP dissident leader Venkata Ramana relents
- KTR to hoist party flag on Formation Day today
- KCR, KTR, Harish hit campaign trail
Crypto deals, virtual assets come under Money Laundering Act
The Union Finance Ministry on Wednesday announced that cryptocurrency transactions would now come under the ambit of money laundering provisions
New Delhi: The Union Finance Ministry on Wednesday announced that cryptocurrency transactions would now come under the ambit of money laundering provisions. In a notification, the Union government said participation in transactions involving virtual digital assets would be under the Prevention of Money Laundering Act (PMLA).
The move is the latest step taken by the government to tighten oversight of digital assets.
In the gazette, the ministry warned investors against "participation in and provision of financial services related to an issuer's offer and sale of a virtual digital asset." Exchange and transfer of virtual digital assets would also fall under PMLA laws, the notification said.
According to the Income tax act, 'virtual digital asset' refers to any information, code, number, or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise and can be called by whatever name.
