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<ul><li>Indian Finance Ministry said crypto trading is now subject to money laundering laws.</li><li>The AML regulation comes after multiple crypto-related scandals.</li><li>Previously, India imposed a capital gains tax of 30% on crypto transactions.</li></ul>The government of India has taken yet another step toward regulating digital assets by imposing money laundering rules on the crypto industry. In a notification on Tuesday, the Indian Finance Ministry said <a href="https://coinedition.com/beginners-guide-to-crypto-trading/" rel="noopener noreferrer nofollow">crypto trading</a>, safekeeping, and similar financial services are now subject to anti-money laundering regulations.Bloomberg quoted Jaideep Reddy, counsel at law firm Trilegal, saying:The new anti-money laundering regulation is coming after multiple reports of crypto-related scandals in the country. For instance, in November last year, the hackers who took down the All India Institute of Medical Sciences (AIIMS) internet server <a href="https://coinedition.com/hackers-of-indian-hospital-server-demands-24-million-in-crypto/" rel="noopener noreferrer nofollow">demanded over $24 million</a> worth of cryptocurrencies in ransom.<a href="https://coinedition.com/indian-finance-ministry-crypto-trading-is-now-subject-to-aml-laws/" rel="noopener noreferrer nofollow">See the Original CoinEdition</a>

Indian Finance Ministry: Crypto Trading Is Now Subject to AML Laws

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