Crypto under PMLA: CoinDCX registers as reporting entity with FIU

Chandigarh, March 17 CoinDCX, a crypto company, today announced it had become a Financial Intelligence Unit (FIU)-registered reporting entity under the new anti-money laundering laws announced by the government earlier this month. According to the government’s notification, Virtual Digital Assets...

Tribune News Service

Updated At : 03:26 PM Mar 18, 2023 IST

Chandigarh, March 17

CoinDCX, a crypto company, today announced it had become a Financial Intelligence Unit (FIU)-registered reporting entity under the new anti-money laundering laws announced by the government earlier this month.

According to the government’s notification, Virtual Digital Assets (VDA) service providers such as exchanges, custodians and wallet providers are required to comply with various regulatory requirements, which include know your customer (KYC) norms, record-keeping, reporting of suspicious transactions, the appointment of a compliance officer and engaging with regulatory authorities to seek guidance on compliance matters.