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<a href="https://bitcoinworld.co.in/india-financial-ministry-registers-28-cryptocurrency-firms/" title="India Financial Ministry Registers 28 Cryptocurrency Firms" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">28 Cryptocurrency Firms In India Register With National Anti-Money Laundering Agency</li> 
</ul> 
The news comes as <a href="https://sansad.in/ls/questions/questions-and-answers">confirmed</a> by Pankaj Chaudhary, the Minister of State for Finance, in a parliamentary discourse. 
This move also follows the India Finance Ministry’s March mandate, requiring cryptocurrency firms to align with the Financial Intelligence Unit, an entity pivotal in combating money laundering.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/coinbase-is-looking-to-expand-its-employee-base-with-indian-workers/" aria-label="“Coinbase Is Looking to Expand Its Employee Base With Indian Workers” (Edit)">Coinbase Is Looking to Expand Its Employee Base With Indian Workers</a> 
The directive necessitates these businesses to adhere to the Prevention of Money Laundering Act (PMLA), mandating stringent verification processes like Know Your Customer protocols. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 A Big development as Crypto in Parliament: 
 Question: a request was made to provide the list of reporting entities in India<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1ee-1f1f3.png" alt="🇮🇳" class="wp-smiley" style="height: 1em; max-height: 1em;"> (crypto companies) dealing in VDA (crypto). 
 Answer: The list of reporting entities dealing in VDA is mentioned below<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Ej2dqjzgJk">pic.twitter.com/Ej2dqjzgJk</a> 
 — Kashif Raza (@simplykashif) <a href="https://twitter.com/simplykashif/status/1731617145753088442?ref_src=twsrc%5Etfw">December 4, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
A noteworthy aspect of the ministry’s response is its extension of these guidelines to offshore crypto exchanges catering to the Indian market, emphasizing that non-compliance will invite action under the PMLA. 
Despite the registration of prominent exchanges like CoinDCX, WazirX and CoinSwitch, none of the 28 registered entities are offshore companies. 
The post <a href="https://bitcoinworld.co.in/india-financial-ministry-registers-28-cryptocurrency-firms/">India Financial Ministry Registers 28 Cryptocurrency Firms</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

India Financial Ministry Registers 28 Cryptocurrency Firms

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