Crypto platforms asked to track J&K transactions for money laundering: Report
The government has asked local cryptocurrency exchanges to closely watch transactions coming from Jammu & Kashmir and nearby border areas, reported The Economic Times. This move follows growing concerns that digital currencies might be misused for money laundering or to fund illegal activities.
The Financial Intelligence Unit (FIU-IND), which looks into financial crimes, advised several Indian crypto platforms to stay alert against possible money laundering activities, according to two people familiar with the matter, the report mentioned.
Crypto bourses (trading platforms or marketplaces where cryptos are bought, sold and traded) have been told to closely monitor and report transactions involving ‘private wallets’, which let users…
