Anti-money laundering norms up crypto compliance bar

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The updated guidelines for combating money laundering and terrorist financing, notified by the Financial Intelligence Unit – India (FIU-IND), may enhance compliance requirements for cryptocurrency exchanges and raise entry barriers for new market participants, according to industry executives.

Under the updated framework for anti-money laundering (AML) and counter-terrorist financing (CTF), notified on January 8, virtual digital asset (VDA) service providers must undergo mandatory cyber security audits by professionals accredited by the Indian…



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Anti-money laundering norms up crypto compliance bar


The updated guidelines for combating money laundering and terrorist financing, notified by the Financial Intelligence Unit – India (FIU-IND), may enhance compliance requirements for cryptocurrency exchanges and raise entry barriers for new market participants, according to industry executives.

Under the updated framework for anti-money laundering (AML) and counter-terrorist financing (CTF), notified on January 8, virtual digital asset (VDA) service providers must undergo mandatory cyber security audits by professionals accredited by the Indian…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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