Key Points
Efforts to enhance the durability and counterfeit resistance of the Indian banknotes is an ongoing process, he said in a written reply to the Rajya Sabha...
The Anti-Money Laundering (AML)/ Counter Financing of Terrorism (CFT) provisions under the PMLA further penalise money laundering, including through crypto assets, he said.. "Accordingly, the government vide notification dated March 7, 2023, explicitly brought the VDAs under the purview of the Prevention and Money-laundering Act, 2002 (PMLA)..
Directorate of Enforcement handles cases related to suspicious VDA transactions under the provisions of the PMLA, Foreign Exchange Management Act, 1999 (FEMA), and Fugitive Economic Offenders Act, 2018 (FEOA)," he said.. Observing that the government is aware that crypto asset transactions are taking place in the country, he said, these transactions, therefore, have been brought into a comprehensive taxation regime through the Finance Act 2022...
"Companies with exposure to crypto assets are required to disclose their holding of crypto assets in their financial statements as per the amendment brought in Schedule III to the Companies Act 2013, vide notification dated March 24, 2021, effective from April 1, 2021," he said.. (You can now subscribe to our Economic Times WhatsApp channel).
You might be interested in
'My body shakes when I speak about Sandeshkhali, its crimes': Nirmala Sitharaman
28, Feb, 24Finance Minister Nirmala Sitharaman said on Tuesday that poor law and order situation and corruption under the state government is making West Bengal "stand out" from other states.