Crypto under PMLA: CoinDCX registers as reporting entity with FIU : The Tribune India

Crypto under PMLA: CoinDCX registers as reporting entity with FIU

Crypto under PMLA: CoinDCX registers as reporting entity with FIU


Tribune News Service

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.

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