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Just Fyi , 😁
LIVEAllandcosta
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I won't say much ... but just FYI #SOLPriceRise
#The Indian finance ministry has sent compliance show-cause notices to nine offshore Virtual Digital Assets service providers, including Binance, and told the information technology ministry to block their URLs for operating illegally in the country without complying with the local money laundering laws.
The nine entities are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
Also Read: Sam Altman's Worldcoin discontinues offline Orb verification services in India
In a statement issued on December 28, the finance ministry said that offshore and onshore Virtual Digital Asset service providers operating in India and involved in activities including exchange between virtual digital assets and fiat currencies, transfer and administration of virtual digital assets or instruments enabling control over them must register with Financial Intelligence Unit-India and comply with the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Financial Intelligence Unit-India is the national agency responsible for receiving, analysing, and disseminating information relating to suspect financial transactions to enforcement agencies and its foreign counterparts.
"The obligation is activity-based and is not contingent on physical presence in India. The regulation casts reporting, record keeping, and other obligations on the VDA SPs under the PML Act which also includes registration with the FIU IND," the finance ministry's statement said, adding that so far 31 service providers of virtual digital assets have registered with Financial Intelligence Unit.
However, several offshore entities though catering to a substantial part of Indian users were not getting registered and coming under the Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) framework," the finance ministry added.
#BNB!
The nine entities are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
Also Read: Sam Altman's Worldcoin discontinues offline Orb verification services in India
In a statement issued on December 28, the finance ministry said that offshore and onshore Virtual Digital Asset service providers operating in India and involved in activities including exchange between virtual digital assets and fiat currencies, transfer and administration of virtual digital assets or instruments enabling control over them must register with Financial Intelligence Unit-India and comply with the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Financial Intelligence Unit-India is the national agency responsible for receiving, analysing, and disseminating information relating to suspect financial transactions to enforcement agencies and its foreign counterparts.
"The obligation is activity-based and is not contingent on physical presence in India. The regulation casts reporting, record keeping, and other obligations on the VDA SPs under the PML Act which also includes registration with the FIU IND," the finance ministry's statement said, adding that so far 31 service providers of virtual digital assets have registered with Financial Intelligence Unit.
However, several offshore entities though catering to a substantial part of Indian users were not getting registered and coming under the Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) framework," the finance ministry added.
#BNB!
$LUNC can't be a wrong choice in the bull run .. hope you fill your bags
LIVEAllandcosta
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Should I tell "I TOLD you so ?" And
we are still not in the bull run.
#LUNC #luna
we are still not in the bull run.
#LUNC #luna
LIVEAllandcosta
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Just FYI to everyone, the fallen are rising ..better get in early$LUNC $LUNA
With 98% burn of supply.
AIBB - do fill your bags this can be a life changing opportunity.
AIBB - do fill your bags this can be a life changing opportunity.
