India recently extended its financial laws to include virtual asset businesses, such as cryptocurrencies, under the Prevention of Money Laundering Act (PMLA).
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India Blockchain & Crypto News
India is experiencing strong blockchain and crypto investment and adoption. Stay tuned for all the latest news and updates on web3, crypto, blockchain, NFTs and metaverse from the Indian market.
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Summit to be held on April 1-2, 2023, at the Sheraton Grand in Bangalore
CBUAE and RBI will jointly conduct proof-of-concept (PoC) and pilot(s) of bilateral CBDC bridge to facilitate cross-border CBDC transactions of remittances and trade.
Once the investigation is complete, the agency can take necessary actions without the need to involve Liminal, as they hold full control over the assets.
The event featured panel discussions on the $1 trillion opportunity presented by Web3 and the development of global regulatory standards for virtual digital assets.
The association aims to promote the development and growth of the blockchain and crypto industry in India by collaborating with the government and other stakeholders.
CBDC is gaining traction as many central banks around the world are exploring and launching their own digital currencies.
The new regulation applies to services such as trading in VDA-fiat, VDA-VDA or storing and managing VDA.
Nilekani’s comments come at a time when India has got a unique opportunity to lead the way in establishing global cryptocurrency regulations with presidency of the G20.