Money laundering law to apply to crypto trade: Finance Ministry

The government has imposed money laundering provisions on cryptocurrencies or virtual assets as it looks to tighten oversight of digital assets. The notification said, “Exchange between virtual digital assets and fiat currencies, exchange between one or more forms of virtual digital assets, transfer of virtual digital assets, safekeeping or administration of virtual digital assets or instruments enabling control over virtual digital assets, and participation in and provision of financial services related to an issuer’s offer and sale of a virtual digital asset” will be now be covered by Prevention of Money-laundering Act, 2002. Amit Shah discusses Tripura tribal areas’ issues with Tipra Motha chief Union Home Minister Amit Shah held discussions with Tipra Motha supremo Pradyot Kishore Debbarma, in the presence of BJP president J.P. Nadda, over various issues faced by the indigenous people of Tripura, a senior leader of the BJP said. BJP’s Northeast coordinator Sambit Patra said Shah heard the issues explained by Debbarma and requested Chief Minister Manik Saha, who was also present in the meeting, to hold talks with ruling ally IPFT, along with Tipra Motha and social organisations, to find amicable solutions to the problems. Responding to Pakistan Foreign Minister Bilawal Bhutto Zardari’s remarks on Jammu and Kashmir, India’s Permanent Representative to the UN Ruchira Kamboj termed his statement as “baseless and politically motivated”.