India’s New Crypto Regulatory Era: Stricter Rules and Competitive Hurdles
India is getting serious about regulating cryptocurrency. The recent implementation of stringent anti-money laundering (AML) measures has put 49 exchanges under a microscope, forcing them to comply with rules that are typically reserved for traditional banks. As great as this might sound for security, it also brings a lot of headaches for these platforms. Let’s dive into what this means for the future of crypto in India.
What Are the New AML Regulations?
The Financial Intelligence Unit (FIU) of India recently announced that 49 cryptocurrency exchanges will now have to adhere to AML regulations. This follows the government’s 2023 decision to bring Virtual Digital Asset service providers under the Prevention of Money Laundering Act…
