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Virtual Digital Assets: Legal & AML Framework

Overview on Virtual Digital Assets (VDA) – Legal & AML Framework Definition of Virtual Digital Assets (VDA) : As per Section 2(47A) of the Income-tax Act, 1961, a Virtual Digital Asset includes: Digital tokens or codes : Any information, code, number, or token (other than Indian or foreign currency) created using cryptography or similar technology, …

FIU

Obligations for Maintenance of Records under PMLA- FIU-IND

Obligations for Maintenance of Records under PMLA – FIU-IND Under Section 12 of the Prevention of Money Laundering Act, 2002 (PMLA), every reporting entity is required to maintain records of all transactions in a manner that enables the reconstruction of individual transactions. This ensures that the information can be used for analysis and investigation if …

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