Indian Crypto Industry Welcomes Govt Plans to Introduce Anti-Money Laundering Measures

2023-3-8 15:15

The Indian government has put the crypto sector under Prevention of Money Laundering Act (PMLA). But is it a signal of greater regulation to come? The post Indian Crypto Industry Welcomes Govt Plans to Introduce Anti-Money Laundering Measures appeared first on BeInCrypto. origin »

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Источник: beincrypto.com

laundering indian → Результатов: 34

Indian authorities unfreeze millions in locked WazirX bank accounts

The Indian crypto exchange was under investigation by local authorities for money laundering allegations which caused a freeze on over $8.1 million in bank account funds.

2022-9-13 12:06
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CoinSwitch CEO, in Wake of Searches by Indian Authorities, Says the Crypto Exchange Is 'Fully Cooperating'

Twice in the Twitter thread, CoinSwitch Kuber CEO Ashish Singhal sought to clarify that the "engagement with the ED" is not about money laundering. CoinDesk has reported the searches have been in connection with India's Foreign Exchange Management Act (FEMA).

2022-8-27 14:57	Business
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Vauld Pursues Legal Counsel After ED Issues Asset Freeze Order

Singaporean crypto lender Vauld bristles as the Indian Enforcement Directorate (ED) issues a freezing order in connection with an ongoing money laundering case. The post Vauld Pursues Legal Counsel After ED Issues Asset Freeze Order appeared first on BeInCrypto.

2022-8-14 17:45	Wazirx
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Authorities Accuse Vauld’s Indian Entity of Aiding in Money Laundering

Authorities in India have frozen $46 million in assets belonging to Vauld’s legal entity in the country. Abetting Money Laundering Vauld has been accused of helping a client launder money....

2022-8-13 00:30
vauld money authorities laundering entity abetting legal

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Indian authorities freeze more crypto funds over money laundering allegations

The Indian Directorate of Enforcement froze $46.4 million in the accounts of Vauld’s Indian branch until the exchange can account for the criminal proceeds it transferred out of the country.

2022-8-13 23:59	Cryptocurrency Exchange
indian exchange branch vauld until account transferred

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India’s ED freezes $46 million of Vauld’s funds on money-laundering charges

Singapore-based Crypto Lender Vauld is facing money laundering charges in India after $46.5 million (3.70 billion Indian rupees) was frozen from its local entity, Flipvolt Technology. The post India’s ED freezes $46 million of Vauld’s funds on money-laundering charges appeared first on CryptoSlate.

2022-8-12 21:46	Regulation
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Indian law enforcement accuses WazirX exchange of aiding in laundering of $130M

India’s Enforcement Directorate, which investigates financial crime, has frozen WazirX bank accounts while it looks at transfers from instant loan companies to international wallets.

2022-8-12 21:30	Cryptocurrency Exchange
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Binance CEO And WazirX Founder Embroiled In A War Of Words Over The Ownership Of The Indian Exchange

Binance CEO and WazirX founder traded words over the ownership of the exchange. The row was amplified after Indian regulators fingered WazirX in a money laundering scheme. Binance previously announced the purchase of the Indian exchange in 2019 and clarified details of the acquisition last week.

2022-8-8 21:48	Cryptocurrency News
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Indian authorities freeze $8.1M in WazirX funds as part of AML investigation

The Directorate of Enforcement of India alleged that WazirX "actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route."

2022-8-6 19:48	Wazirx
wazirx fintech assisted around accused companies laundering

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Binance-owned WazirX under investigation in India over alleged money laundering

The Indian Directorate of Enforcement is investigating WazirX to determine whether it facilitated the laundering of 2,790 crore Indian rupees(over $350 million) through its platform, the country’s Finance Minister, Pankaj Chaudhary, told local media.

2022-8-4 03:00	Regulation
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WazirX Comes Under Investigation as $350 Million Laundered Through Largest Indian Exchange

WazirX is accused of laundering $350 million through crypto, founders already left India

2022-8-4 17:09
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Indian MP Says Crypto Is Used for Bribes and Money Laundering

An MP from one of India's two leading parties has reiterated his criticism of cryptocurrency while supporting a CBDC

2022-3-25 18:00
parties two india reiterated leading criticism cbdc

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Binance Probed by Indian Authorities Regarding Money Laundering via Betting Apps

Binance Holdings is under scrutiny by an Indian regulator regarding local betting apps and their role in money laundering activities

2021-7-30 12:13
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India: Binance-acquired WazirX gets show-cause notice claiming it's 'safe haven for money laundering'

India's Directorate of Enforcement, on Friday, issued a show-cause notice to Indian crypto-exchange WazirX for violating FEMA guidelines for transactions involving cryptocurrencies worth Rs. 2,790.

2021-6-11 12:40	News
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Indian Crypto Exchanges Prepare Presentation for Regulators

The note makes recommendations on how best to regulate cryptocurrencies, as well as addressing associated risks. These include issues such as money laundering, threats to the rupee and the environmental impact of crypto mining.

2021-3-29 21:23
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Indian police arrest 78 in Bitcoin call center scam

A call center scam that targeted US citizens and requested payment in Bitcoin has been busted by police in India resulting in the arrest of 78 people. According to a report, the Indore unit of Madhya Pradesh police’s Cyber Cell unearthed the online scam, which saw tele callers with American accents dupe US citizens.

2019-6-13 11:21	hard fork
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India Crypto Saga: Earning in cryptocurrencies is not illegal, explains prominent advocate

The Indian crypto community has been promoting cryptocurrencies, digital assets that are now close to being banned, according to reports. However, the community has some hope with the scheduled hearing in July 2019.

2019-5-3 16:30	News
community crypto cryptocurrencies india advocate prominent saga

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India’s Crypto saga: Prominent advocate explains how to own crypto legally in the country

The Indian crypto community rejoiced when the Supreme Court made a move to understand and regulate crypto. However, the quickness of the hearing’s adjournment shocked the community. A month since the hearing, there are rumors that the government is planning a complete ban on cryptocurrencies under the Prevention of Money Laundering Act, which has left […] The post India’s Crypto saga: Prominent advocate explains how to own crypto legally in the country appeared first on AMBCrypto.

2019-5-2 16:30	News
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Bitcoin a ‘Major Concern’ for the Indian Government, if Used for Payments: Report

India has long been a nation that has taken a hardline stance towards cryptocurrencies. The risks associated with digital currencies such as money laundering and terrorism funding have long fueled the Indian government’s approach to dealing with digital assets.

2019-2-10 12:15	India
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Don’t Invest in Bitcoin, You Could Be Aiding Money Laundering and Terrorism: Indian Police

By now, we’ve just about heard it all from crypto skeptics. From some of the world’s wealthiest investors such as Warren Buffet to economists such as Nouriel Roubini. This time, however, the skepticism is coming from another party: the Indian police.

2019-1-5 15:37	India
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Reserve Bank of India Shelves State-Backed Cryptocurrency

The Reserve Bank of India has shelved its plan to launch a state-backed cryptocurrency amidst increased government pressure and concerns around money laundering. Indian Government Still Cautious About Cryptocurrencies It seems that regulatory clarity has evaded the crypto community in India, yet again.

2019-1-3 05:52
india bank cryptocurrency state-backed reserve government shelves

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India May Legalize Bitcoin Under “Strong” Rules

India could be making a U-turn on its directives for cryptocurrencies. Per reports from the New India Express, a second interdisciplinary committee set up by the Indian government is considering making cryptocurrencies legal in the country again but with more stringent rules.

2018-12-28 02:16	Regulation
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Deutsche Bank Headquarters Raided by 170 Police Officers Over Money Laundering

Deutsche Bank’s headquarters and five other offices have been raided by 170 police officers, prosecutors, and tax inspectors over money laundering allegations. The bank’s written and electronic business documents were reportedly seized.

2018-11-30 16:35	Virtual Currency
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Court Drops Charges Against Alleged Btc-e Operator Alexander Vinnik

The lawsuit against alleged Btc-e operator Alexander Vinnik for “fraud, money laundering, and other grave crimes” filed in Cyprus has reportedly been dropped. His lawyer says the case “fell apart at the very early stage” at the initiative of the plaintiffs themselves.

2018-11-29 11:30	Virtual Currency
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Massive Sexstortion Scam Linked to Bitcoin Laundry Site Bitblender.io

November 13, 2018, Diego Garcia, British Indian Ocean Territory (BIOT): A massive “sexstortion” scheme that has been raking in millions of dollars in Bitcoins from terrified victims has been traced to the Bitcoin money laundering site Bitblender.

2018-11-14 23:04
site bitblender massive bitcoin sexstortion laundry linked

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India: Government Officials Propose “Crypto Tokens,” Maintain Negative Crypto Outlook

Despite continuing to maintain an unfavorable stance for cryptocurrencies and citing their potential role in money laundering, Indian government officials revealed they are looking at tokenized datasets and other cryptographic forms of blockchain technology.

2018-8-13 13:00	India
crypto officials maintain india government tokens indian

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ConsenSys Ventures Kavita Gupta Talks Tachyon and India

ConsenSys, the Ethereum production studio based in the U. S. , launched ConsenSys Ventures last year selecting Kavita Gupta to run two funds of $50 million and $100 million.

2018-8-6 17:40	Investing
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GainBitcoin’s $300 Million Crypto Scam Investigation Sees New “Crucial Clues” Surface

GainBitcoin was exposed as a Ponzi scheme, and the investigation by the Indian police force has continued to progress. The scheme stole $300 million, but authorities have said that they presently have new “crucial clues” to see how this fake company ended up laundering so much money.

2018-7-16 09:17	News
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India’s Leadership Accused of Involvement in ‘Mega Bitcoin Scam’

The Indian National Congress (INC) party, the largest political party in the nation, is accusing the ruling Bharatiya Janta Party (BJP) of money laundering through bitcoin. INC, more commonly known as the Congress Party, alleged Thursday that the BJP was converting “black money” into white using bitcoin in the western state of Gujurat, the English-language

2018-7-6 07:58
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Politicians in India’s Gujarat Accused of Bitcoin Money Laundering Scam

Members of the Indian National Congress (INC) have alleged that Bitcoin has been used to clean dirty money for the ruling party in the state of Gujarat. They are demanding a judicial probe into the matter be launched.

2018-7-6 00:00
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India's Central Bank Admits to Banning Crypto Accounts Without Research

]In a fresh new twist, the Reserve Bank of India (RBI) has admitted to issuing its ban on cryptocurrency-related accounts spontaneously, without taking time to study and understand how cryptocurrencies work.

2018-6-13 23:40	Regulation
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BitMEX Slapped With $100 Million Fine For Violating Anti-Money Laundering Laws

BitMEX, the cryptocurrency trading platform, has incurred a substantial $100 million penalty for contravening US anti-money laundering (AML) requirements. This penalty arises from the company’s noncompliance with the US Bank Secrecy Act (BSA), which permitted unlawful transactions on its platform for multiple years.

Bitcoin mixer operator sentenced to 3 years for laundering over $300m

Larry Harmon, an Ohio resident, has been sentenced to three years in prison for laundering more than $300 million worth of Bitcoin through his darknet service, Helix, according to Bloomberg. The platform operated a tool designed to obscure the origins…

Crypto Mixer Jailed For 12.5 Years After $400M Money Laundering Conviction

The founder of a crypto mixing platform will end up in a US prison cell and will call it home for 12. 5 years after a federal court ruled that the crypto firm owner was guilty of money laundering. Related Reading: The $12.

Texas drug ring indicted for laundering $50k in crypto and 12kg of meth

Six men operating under the name “Loverbois” have been convicted for laundering $15,000 to $50,000 in cryptocurrency in addition to selling nearly 12 kilograms of meth disguised as Adderall pills.

Germany closes 47 crypto exchanges over money laundering concerns

German authorities have taken down 47 cryptocurrency exchange services in a crackdown on illegal money laundering activities. The Federal Criminal Police Office in Germany and the Central Office for Combating Internet Crime led the operation, which targeted platforms allowing users…

Crypto Recognition: China Acknowledges Digital Currency In Historic AML Law Overhaul

The public prosecutor and supreme court of China have updated the provisions of the nation’s anti-money laundering (AML) legislation to include the recognition of crypto transactions for the first time.

Gambaryan Family Says Binance Executive Is Being Denied Access to Lawyers, Health Is Deteriorating

American Binance executive Tigran Gambaryan, who is detained in Nigeria, is being "denied adequate access to his legal team and his health is deteriorating rapidly," his family said in an emailed statement.

2023-3-8 15:15

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