The Financial Intelligence Unit India (FIU IND) has issued compliance showcause notices to nine offshore Virtual Digital Assets Service Providers (VDA SPs) for alleged violation of the Prevention of Money Laundering Act 2002 (PMLA). VDA SPs were brought into the ambit of Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act 2002 in March 2023. The nine offshore VDA service providers are: Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXCGlobal, and Bitfinex. Catch Manisha Gupta with more details
first published: Jan 3, 2024 01:14 pm
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