 "Money laundering, scam, fraud")
The Centre's decision to bring virtual digital assets (VDAs) under the Prevention of Money Laundering Act (PMLA) will improve investors' confidence by bringing in more transparency, officials from several crypto firms told Business Standard.
On Tuesday, the Centre issued a notification to bring VDAs under the ambit of anti-money laundering law in India. The definition of "virtual assets" would include cryptocurrencies and non-fungible tokens (NFTs).
"This move not only helps safeguard the financial system's integrity but also inspires investor confidence in the crypto industry," said Edul Patel, chief executive officer (CEO) and co-founder of crypto firm Mudrex.
"This will strengthen
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