The Finance Ministry in March had said entities dealing in VDAs, crypto exchanges and intermediaries would be considered "reporting entity" under the Prevention of money laundering Act (PMLA).
2022 is been a bad, bad year for crypto - truly a 'crypto winter'. The collapse of FTX, in particular, shook the faith of investors. Have Indian crypto exchanges been impacted by the fall of FTX - and how are exchanges trying to rebuild the faith of crypto enthusiasts and keep them invested? CoinDCX CEO & Co-founder Sumit Gupta speaks exclusively to Moneycontrol - watch!
The Former Deputy Governor added that while cryptocurrency trading is meant to be independent, it must be amenable to the laws of the land. CoinDCX Co-founder and CEO Sumit Gupta stressed how regulators must not clamp down on evolving technology.