Monero and Zcash Face Restrictions as India Cracks Down on Privacy Cryptos

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India has stepped up its oversight of the cryptocurrency sector, directing exchanges to restrict transactions involving privacy-focused digital tokens, as authorities seek to curb money laundering and illicit financial activity.

The move comes after the Financial Intelligence Unit – India (FIU-IND) issued updated guidance to crypto platforms, asking them to halt deposits, withdrawals, and trading of so-called anonymity-enhancing crypto tokens. These assets are designed to hide transaction details and user identities, making them difficult for…



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Monero and Zcash Face Restrictions as India Cracks Down on Privacy Cryptos


India has stepped up its oversight of the cryptocurrency sector, directing exchanges to restrict transactions involving privacy-focused digital tokens, as authorities seek to curb money laundering and illicit financial activity.

The move comes after the Financial Intelligence Unit – India (FIU-IND) issued updated guidance to crypto platforms, asking them to halt deposits, withdrawals, and trading of so-called anonymity-enhancing crypto tokens. These assets are designed to hide transaction details and user identities, making them difficult for…



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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