Loading...

⚠ ✕
❮ Top
☎ Help
☰
Income Tax ▸
Income Tax ▸
Allied (Direct Tax) ▸
International Taxation ▸
Income Tax Case Laws ▸
PMLA ▸
Benami Property ▸
Black Money ▸
Money Laundering ▸
Vivad ▸
Direct Tax ▸
Indirect Taxes ▸
GST ▸
Central GST ▸
Integrated GST + ▸
UTGST / SGST ▸
GST Case Laws + ▸
Customs ▸
Customs Act / Rules ▸
Notifications / Forms ▸
Circulars / Tariff ▸
Case Laws / Manual ▸
FTP/SEZ ▸
Foreign Trade ▸
Notifications / Circulars / Appendix / Forms ▸
Special Economic Zone (SEZ) ▸
Corp. Law ▸
Company Laws ▸
Standards / Trusts ▸
Partnership / LLP / Societies ▸
Case Laws ▸
FEMA ▸
FEMA / FCRA ▸
Notifications / Circulars ▸
Manual / FAQ ▸
FEMA Case Laws ▸
SEBI / IBC ▸
SEBI ▸
SEBI Case Laws ▸
IBC ▸
IBC - Case Laws ▸
Indian Laws ▸
Indian Laws ▸
Bharatiya Nyaya 2023 ▸
Finance Acts & Bills / Amendment Acts ▸
Case Laws ▸
Old / Others ▸
Central Excise ▸
Central Excise - Cases ▸
Wealth Tax ▸
Service Tax ▸
Service Tax Cases ▸
CST / DVAT ▸
CST / VAT / Sales Tax ▸
  • Advanced Search :
    • ×

    By creating an account you can:

    Logo TaxTMI
    Keyword Search :
    AI Tools : New
    Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
    Call Us / Help / Feedback✕

    Contact Us At :

    ✉ E-mail: [email protected]

    ✆ Call / WhatsApp at: +91 99117 96707

    For more information, Check Contact Us

    FAQs :

    To know Frequently Asked Questions, Check FAQs

    Most Asked Video Tutorials :

    For more tutorials, Check Video Tutorials

    Submit Feedback/Suggestion :

    Email :
    Please provide your email address so we can follow up on your feedback.
    Category :
    Description :
    Min 15 characters 0/2000
    Make Most of Text Search ✕
    1. Checkout this video tutorial: How to search effectively on TaxTMI.
    2. Put words in double quotes for exact word search, eg: "income tax"
    3. Avoid noise words such as : 'and, of, the, a'
    4. Sort by Relevance to get the most relevant document.
    5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
      6. Text Search
    6. The system will try to fetch results that contains ALL your words.
    7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
      8. Text Search
    ╳
    Add to...
    You have not created any category. Kindly create one to bookmark this item!
    ✕
    Create New Category
    Hide
    Title :
    Description :
    ❮❮ Hide
    ❮ Default View
    Expand ❯❯
    Close ✕
    🔎 News - Adv. Search ❯
    TEXT SEARCH:

    Press 'Enter' to add multiple search terms. Rules for Better Search

    Search In:
    Main Text + AI Text ❯
    • Main Text
    • Main Text + AI Text
    • AI Text
    Category: ?
    Categorized by AI
    ---- All Categories ---- ❯
    • ---- All Categories ----
    • Income Tax
    • GST
    • Customs, DGFT & SEZ
    • FEMA & RBI
    • Corp. Laws, SEBI & IBC
    • PMLA, Black Money & ED
    • Budget
    • News and Press Release
    • PTI News
    Month:
    ---- All Months ---- ❯
    • ---- All Months ----
    • January
    • February
    • March
    • April
    • May
    • June
    • July
    • August
    • September
    • October
    • November
    • December
    Year:
    ---- All Years ---- ❯
    • ---- All Years ----
    • 2026
    • 2025
    • 2024
    • 2023
    • 2022
    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
    • 2011
    Sort By: ?
    In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
    Relevance Default Date
      August 26, 2026
      The US and Canada could pull back from an all-out trade war. It's not clear that they will
      August 26, 2026
      Indian Community in Japan Playing Key Role in Strengthening India-Japan Ties: Commerce and Industry Minister Shri Piyush Goyal
      August 26, 2026
      Union Minister of Commerce and Industry Shri Piyush Goyal Chairs India-Japan Industry Roundtable on Semiconductors and Artificial Intelligence in Toky...
      August 26, 2026
      National Traders’ Welfare Board Holds 100th VC Meeting to Strengthen Engagement with Traders Across the Country
      August 26, 2026
      CCI approves acquisition of 100% share capital of Tao Digital Solutions by Cyient Ltd
      August 26, 2026
      CCI approves acquisition of 100% stake in Kestrel Coal Group Pty Ltd. by Yancoal Australia from certain sellers
      August 25, 2026
      HC bench releases Skoda Volkswagen USD 1.4 billion tax case sans verdict; matter to be heard afresh
      August 25, 2026
      Canada strikes back at US with retaliatory tariffs as trade war escalates
      August 25, 2026
      Rupee rises 26 paise to close at 95.44 against US dollar
      August 25, 2026
      Economy shows resilience to global headwinds with buoyant domestic demand: RBI bulletin
      August 25, 2026
      Goyal promises BIS certification relief for high-tech sector firms
      August 25, 2026
      IICA Conducts inaugural session of 11th Batch of its Certified CSR Professional Programme
      August 25, 2026
      Net Profit of Regional Rural Banks (RRBs) Rises to Record ₹10,176 Crore, Total Business Cross ₹13.5 Lakh Crore in FY 2025-26
      August 25, 2026
      UP Cong chief writes to PM Modi on ethanol policy, sugar prices
      August 25, 2026
      Economy shows notable resilience despite global headwinds: RBI bulletin
      August 25, 2026
      Sugar prices rise by nearly Re 1 per kg to about Rs 64
      August 25, 2026
      Trump says he's considering renaming Lake Ontario as 'Lake America' as trade war with escalates
      August 25, 2026
      Flash Report on Central Sector Infrastructure Projects worth ₹150 crore and above
      August 25, 2026
      HP minister warns orchardists against spurious PGRs sold in open market
      August 25, 2026
      NEWS HIGHLIGHTS
    ❮
    ❯
    ❯❯
    Maximize Maximize Maximize
    0 / 200
    Expand Note
    Add to Folder

    No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Open Link
    News
    Showing Results for :
    Reset Filters
    Results Found:
    Show All Summaries Hide All Summaries
    August 26, 2026
    The US and Canada could pull back from an all-out trade war. It's not clear that they will
    Show AI Summary
    Reciprocal trade tariffs intensify as negotiations confront market access, cultural protections, industrial safeguards, and sovereignty concerns.
    US-Canada tariff escalation involves reciprocal import duties following failed negotiations over market access and trade in dairy, alcoholic beverages, automobiles, steel, aluminium and softwood lumber. United States tariff action relies on a rarely used trade-law power permitting duties against countries considered to discriminate against American businesses, without a prior investigation or stated time limit. Negotiations also raised concerns about protection of major industries, cultural protections and Canada's freedom to conclude trade agreements with other countries.
    August 26, 2026
    Indian Community in Japan Playing Key Role in Strengthening India-Japan Ties: Commerce and Industry Minister Shri Piyush Goyal
    Show AI Summary
    Diaspora engagement supports skilled mobility, investment links, remittances, and citizen welfare while encouraging compliance with local laws.
    Indian diaspora engagement in Japan supports bilateral goodwill, business links, investment opportunities and people-to-people ties. Skilled Indian professionals are encouraged to understand local requirements, learn Japanese language and culture, and pursue opportunities in healthcare, trades, engineering, artificial intelligence, accountancy and maritime work. Diaspora members are also encouraged to maintain connections with India, contribute through digital education and knowledge-sharing, and comply with local laws and regulations. Remittances and government support for citizens' welfare, safety and crisis assistance abroad are recognised as important aspects of diaspora engagement.
    August 26, 2026
    Union Minister of Commerce and Industry Shri Piyush Goyal Chairs India-Japan Industry Roundtable on Semiconductors and Artificial Intelligence in Tokyo
    Show AI Summary
    Semiconductor and AI cooperation advances through industry engagement, investment facilitation, and accelerated economic partnership review.
    India-Japan cooperation in semiconductors and artificial intelligence is being strengthened through industry engagement, investment facilitation, technology partnerships and an economic-security-oriented framework. India's semiconductor strategy covers chip design, machinery and materials, fabrication, ATMP/OSAT, research, and talent development, supported by Semicon India initiatives. Bilateral engagement also seeks to address industry concerns, expand manufacturing and innovation partnerships, and accelerate review of the Comprehensive Economic Partnership Agreement to reflect emerging economic opportunities.
    August 26, 2026
    National Traders’ Welfare Board Holds 100th VC Meeting to Strengthen Engagement with Traders Across the Country
    Show AI Summary
    Virtual trader engagement platform strengthens weekly grievance feedback, policy information sharing, and institutional dialogue between government and trading communities.
    The Virtual Conference Interaction Meetings provide a weekly, accessible forum for retail traders to engage with the Government, receive information on relevant schemes, policies and reforms, and submit grievances and suggestions. The platform enables recurring concerns to be identified and communicated to concerned Ministries and Departments for consideration and redressal. It seeks to strengthen institutionalised dialogue, feedback, transparency, trust and cooperation between the Government and the trader community.
    August 26, 2026
    CCI approves acquisition of 100% share capital of Tao Digital Solutions by Cyient Ltd
    Show AI Summary
    Competition clearance for full acquisition permits Cyient to acquire Tao Digital Solutions, a global digital transformation and technology services provider.
    Competition Commission of India approved Cyient Limited's acquisition of 100% of Tao Digital Solutions Inc.'s share capital from its existing shareholders. The full share capital acquisition transfers complete ownership of Tao Digital Solutions to Cyient. Tao Digital Solutions provides global digital transformation and technology services, including product engineering, managed services, cybersecurity, payments, digitization and AI, cloud services, and data services, and operates in India through its wholly owned subsidiary, Tao Digital India Private Limited.
    August 26, 2026
    CCI approves acquisition of 100% stake in Kestrel Coal Group Pty Ltd. by Yancoal Australia from certain sellers
    Show AI Summary
    Competition clearance for full coal-sector acquisition addresses limited Indian market links through metallurgical and thermal coal sales.
    Competition approval covers Yancoal Australia Limited's acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd. The target holds an 80% interest in the Kestrel Joint Venture, which operates a Queensland coal mine producing principally metallurgical coal and a smaller volume of thermal coal. Neither the acquirer nor the target has a physical presence in India. Their Indian nexus is limited to coal exports and the joint venture's sales of metallurgical coal into India.
    August 25, 2026
    HC bench releases Skoda Volkswagen USD 1.4 billion tax case sans verdict; matter to be heard afresh
    Show AI Summary
    Customs classification of unassembled vehicle imports requires fresh hearing after reserved tax challenge was released without verdict.
    The dispute concerns customs classification of imported unassembled vehicle parts. Customs authorities allege that parts imported in separate shipments should have been declared as completely knocked down (CKD) units, attracting the higher duty applicable to CKD imports, rather than as individual components subject to lower duty. The manufacturer contests the resulting customs demand. Proceedings have been released for fresh hearing before the regular indirect-tax writ bench, with status quo maintained for four weeks.
    August 25, 2026
    Canada strikes back at US with retaliatory tariffs as trade war escalates
    Show AI Summary
    Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
    Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
    August 25, 2026
    Rupee rises 26 paise to close at 95.44 against US dollar
    Show AI Summary
    Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
    Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
    August 25, 2026
    Economy shows resilience to global headwinds with buoyant domestic demand: RBI bulletin
    Show AI Summary
    Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
    Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
    August 25, 2026
    Goyal promises BIS certification relief for high-tech sector firms
    Show AI Summary
    BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
    Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.
    August 25, 2026
    IICA Conducts inaugural session of 11th Batch of its Certified CSR Professional Programme
    Show AI Summary
    Corporate social responsibility should prioritise measurable community outcomes, transparency, capable implementing agencies, and strategic integration with sustainability objectives.
    Corporate social responsibility should prioritise measurable community outcomes rather than expenditure alone. Effective CSR depends on community-responsive design, capable implementing agencies, rigorous monitoring, social audits, and transparent use of technology and data. Public sector enterprises may use thematic priorities, convergence with government programmes, and institutional collaboration to replace isolated interventions with strategic CSR. CSR capacity building encompasses legal and regulatory frameworks, governance, project planning, impact assessment, reporting, ESG and the Social Stock Exchange.
    August 25, 2026
    Net Profit of Regional Rural Banks (RRBs) Rises to Record ₹10,176 Crore, Total Business Cross ₹13.5 Lakh Crore in FY 2025-26
    Show AI Summary
    Regional rural bank performance highlights improved profitability, asset quality, priority-sector lending, financial inclusion, and digital banking expansion.
    Regional Rural Banks achieved prescribed priority-sector lending targets and sub-targets, expanded financial inclusion through new Pradhan Mantri Jan Dhan Yojana accounts, and recorded improvement in profitability, asset quality, and credit-deposit ratio. Digital banking adoption is to be accelerated to improve operational efficiency, customer experience, and banking access in rural and remote areas. Sponsor Banks are expected to strengthen information-technology infrastructure and support increased area-specific credit flows and innovative lending.
    August 25, 2026
    UP Cong chief writes to PM Modi on ethanol policy, sugar prices
    Show AI Summary
    Ethanol-blended fuel policy faces calls for consumer-focused review amid sugar supply pressures and older-vehicle compatibility concerns.
    Consumer-focused review of the ethanol-blended fuel policy is sought because higher ethanol diversion may affect domestic sugar availability and prices, potentially requiring sugar imports that could reduce claimed foreign-exchange savings from lower petroleum imports. The review should address ethanol and sugar production, domestic prices, imports, and consumer, environmental and economic concerns. Availability of lower-blend fuel alongside E20 is advocated for owners of older vehicles, with consumer choice between E10 and E20 supporting a comprehensive reassessment.
    August 25, 2026
    Economy shows notable resilience despite global headwinds: RBI bulletin
    Show AI Summary
    Economic resilience remains supported by domestic demand, manufacturing, liquidity and capital inflows despite external trade and geopolitical risks.
    Economic resilience is attributed to buoyant domestic demand, sustained manufacturing and services activity, and double-digit merchandise trade growth. Improved southwest monsoon conditions supported kharif sowing and partly reduced agricultural risks, although geopolitical frictions and fresh United States tariffs remained external risks. Supply-side pressures raised consumer price inflation, while stable core inflation indicated limited cost pass-through. Easing liquidity, credit growth, investment activity and rebounding foreign capital inflows supported financial and external-sector conditions.
    August 25, 2026
    Sugar prices rise by nearly Re 1 per kg to about Rs 64
    Show AI Summary
    Sugar price controls combine raw sugar imports, stockholding limits, and export restrictions to curb retail inflation.
    Sugar market intervention combines permitted imports of raw sugar, stockholding limits for dealers and bulk consumers, and an existing export ban to address sharp increases in retail and wholesale prices. Limits on inventories held by trade participants and large industrial consumers are intended to curb speculation and hoarding. Although ex-mill rates declined after the import decision and anti-hoarding measures, the reduction had not yet translated fully into retail prices. The measures seek to supplement domestic availability and restrain practices that may intensify consumer-price increases.
    August 25, 2026
    Trump says he's considering renaming Lake Ontario as 'Lake America' as trade war with escalates
    Show AI Summary
    Tariff escalation drives retaliatory planning, industry protection measures, supply-chain uncertainty, and proposed symbolic geographic renaming amid cross-border trade tensions.
    United States-Canada trade tensions have intensified after tariffs were imposed on Canadian goods following unsuccessful bilateral talks. Canada is expected to pursue retaliatory measures, potentially using targeted action to protect workers and businesses rather than matching tariffs directly. Further tariff threats concern vehicles, auto parts and steel. Integrated cross-border supply chains in automotive, energy, agriculture and manufacturing face increased costs and consumer-price uncertainty. Consideration of renaming Lake Ontario as "Lake America" has also been linked to the escalating dispute.
    August 25, 2026
    Flash Report on Central Sector Infrastructure Projects worth ₹150 crore and above
    Show AI Summary
    Central infrastructure monitoring through PAIMANA-PROJ tracks implementation progress, sectoral priorities, completed works, and integration of newly monitored projects.
    PAIMANA-PROJ monitors Central Sector infrastructure projects costing Rs. 150 crore and above across 17 Ministries and Departments. As of July 2026, 1,775 projects with a revised cost of Rs. 37.11 lakh crore were under monitoring, with cumulative expenditure of Rs. 19.26 lakh crore. Transport and Logistics formed the largest monitored sector, followed by Energy. The portfolio included mega and major projects at varying physical and financial completion stages. PAIMANA-CRIP serves as the central infrastructure-project data repository, with most data updated through APIs.
    August 25, 2026
    HP minister warns orchardists against spurious PGRs sold in open market
    Show AI Summary
    Plant growth regulator quality controls require farmer awareness, licensed sales, quarantine compliance, and protection against uncertified orchard inputs.
    Plant Growth Regulator quality control seeks to protect farmers and orchardists from spurious products sold in the open market. Licensed pesticide and fungicide outlets receive application schedules, while farmer awareness is stressed due to purchases of cheaper PGRs that may not achieve expected results. Rootstock imports require quarantine clearance, and uncertified rootstock purchased from the market is associated with disease spread in orchards. Regulatory measures include direct departmental sale of branded chemicals, promotion of weather-based crop insurance, and demands concerning minimum support pricing and Market Intervention Scheme documentation.
    August 25, 2026
    NEWS HIGHLIGHTS
    Show AI Summary
    Anti-conversion compliance prompts voluntary prayer declarations, alongside food-safety oversight and enforcement against demolition, liquor, and cyber-fraud allegations.
    Maharashtra's anti-conversion law has commenced, and churches across the Mumbai Metropolitan Region have sought written self-declarations confirming voluntary prayer attendance without pressure. Food-safety oversight requires cleaning of cricket association eateries before a further inspection. Enforcement matters include investigation into unauthorised shop demolitions allegedly involving misuse of a municipal corporation's name, arrests connected with spurious-liquor manufacture, and a cyber-fraud network allegedly using mule accounts to launder proceeds. A retired High Court judge has been appointed as Lokayukta.

    News

    Back

    All News

    Showing Results for :
    Reset Filters
    No Records Found

    News

    Home › news › PMLA, Black Money & ED › 2025 › October, 2025 › This
    Back

    All News

    whatsapp Join Channel
    Showing Results for : Reset Filters
    PMLA, Black Money & ED

    Financial Intelligence Unit (FIU IND) issues notices for non-compliance to 25 offshore Virtual Digital Assets Service providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act (PML) Act, 2002

    October 1, 2025

    Contents
    Acts
    Summary
    Note

    Note

    -

    Bookmark

    Print

    Print

    Print Options

    As part of recent part of compliance action against the such entities, Financial Intelligence Unit India (FIU IND) has issued notices for non-compliance to the following 25 offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering (PML) Act, 2002:

    S. No

    Name of the Offshore VDA service provider

    Name and address details

    1

    Huione

    Huione Group

    Haowang Guarantee (Formerly Known as Huione Guarantee) ;

     Huione Pay PLC; and

     Huione Crypto

    – 62, Norodom Blvd, Phnom Penh, Cambodia

    2

    BC.game

    BlockDance B.V.- 158182, located at Emancipatie Boulevard Dominico F. "Don" Martina 31, Curaçao)

    3

    Paxful

    Paxful Inc. - 3422 Old Capitol Trail, PMP #989, Wilmington, Delaware, 19808, United States

    4

    Changelly

    Changelly Ltd - 18/F East Town, No.41 Lockhart Road, Wan Chai, Hong Kong.

    5

    CEX.IO

    CEX.IO Ltd - 100 SE 2nd St, Suite 3852 Miami, Florida, 33131, USA

    CEX.IO Ltd-2nd Floor, 1-5 Clerkenwell Road, London, EC1M 5PA, United Kingdom,

    6

    LBank

    LBK Blockchain Co. Limited - Meadow House, P.O. Box 116, Road Town, Tortola, British Virgin Islands

    7

    Youhodler

    YouHodler SA - St. Vincent and the Grenadines, specifically at Hinds Building, Kingstown / Lausanne, Switzerland. Specifically, it's located at Avenue du Théâtre 7, Lausanne, 1005

    8

    BingX

    BingX Limited - Johnson's Ghut, Road Town, British Virgin Islands

    9

    PrimeXBT

    PrimeXBT Trading Services LLC - 1st Floor, Meridian Place Choc Estate, Castries, Saint Lucia

    10

    BTCC

    BTCC UK Limited - Wisteria Grange Barn, Pikes End, Pinner, London, HA5 2EX, England, UK

    11

    Coinex

    CoinEx Exchange - Unit 3A, 12/F, Kaiser Centre, No. 18 Centre Street, Sai Ying Pun, Hong Kong

    12

    Remitano

    Babylon Solutions Limited - 391A Orchard Road #12-02 Ngee Ann City, Singapore

    13

    Poloniex

    Polo Digital Assets Ltd - 99 High Street, Suite 1701, Boston, MA 02110

    14

    BitMex

    HDR Global Trading Ltd - Global Gateway 8, Rue de la Perle, Providence Mahé, Seychelles

    15

    Bitrue

    Bitrue Ltd - Centro Bianco, 73 Upper Paya Lebar Road, Suite 06-01C, Singapore, 534818

    16

    LCX

    LCX AG - Herrengasse 6, 9490 Vaduz, Liechtenstein

    17

    Probit Global

    ProBit Global Services Limited - Suite 9, Ansuya Estate, Revolution Avenue, Victoria, Mahé, Seychelles

    18

    BTSE

    BTSE Holdings Limited - V. Nagevidiaus g. 3, Vilnius, Lithuania

    Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands.

    19

    HIT BTC

    Hit Solution Limited - Unit 19, 7/F., One Midtown No.11 Hoi Shing Road, Tsuen Wan Hong Kong

    20

    LocalCoinSwap

    LocalCoinSwap - Wan Chai, Hong Kong Island, Hong Kong

    21

    AscendEx

    AscendEX Ltd - 114 Lavender Street, #09-88, Court Hub 2, Singapore

    22

    Phemex

    PMX International Limited - 1 Irving Place, #08-11, The Commerze@Irving, Singapore

    23

    ZooMex

    Zoomex Pte Ltd - Vistra Cayman Trust Limited, Grand Pavilion, Hibiscus Way, 802 West Bay Road, Cayman Islands

    24

    CoinCola

    CoinCola Limited - Rm D 16/F One Capital Place 18 Luard RD,Hong Kong

    25

    CoinW

    CoinW Pte Ltd.- 33 UBI Avenue 3 #08-43 Vertex, Singapore

    Further, the Director FIU IND, in exercise of powers under Section 79(3)(b) of the Information Technology Act, 2000, has also issued notices to the aforesaid entities with respect to takedown of the application/URLs for public access which have been found to be operating illegally without complying with the relevant provisions of the PML Act, 2002 in India.

    Till date 50 VDA SPs have registered with FIU IND. However, from time to time the entities which are catering to Indian users but not getting registered and thus remain outside the AML/CFT framework are identified by the FIU IND.

    Virtual Digital Assets Service Providers (VDA SPs) were brought into the ambit of Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act, 2002 in March 2023.

    The Virtual Digital Asset Service Providers (VDA SPs) operating in India (whether offshore or onshore) and engaged in activities like exchange between virtual digital assets and fiat currencies, transfer of virtual digital assets, safekeeping or administration of virtual digital assets or instruments enabling control over virtual digital assets etc. are required to be registered with FIU IND as Reporting Entity and comply with the set of obligations as mandated under Prevention of Money Laundering Act (PMLA) 2002. These obligations are activity-based and are not contingent on physical presence of the entity in India. The regulation casts reporting, record keeping, and other obligations on the VDA SPs under the PML Act which also includes registration with the FIU IND.

    It must be mentioned that the Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

    Topics

    Acts Income Tax
    Next ➔