The Financial Intelligence Unit of India (FIU-IND) has implemented stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) rules for cryptocurrency platforms. These rules require users to go through more thorough identity checks when they sign up. The new framework, based on the Prevention of Money Laundering Act (PMLA) of 2002, aims to improve the monitoring of virtual digital assets (VDAs) and reduce the risks of fraud, money laundering, and terrorism financing. India’s rules about cryptocurrencies are often changing. For example, they tax VDA gains at 30% and make registered exchanges report any ... (full story)