Question
With reference to Virtual Digital Assets and Prevention
of Money Laundering Act (PMLA) 2002 , consider the following statements: 1.   VDA service providers must adhere to the same reporting requirements and KYC requirements as other regulated companies, such as banks. 2.   The PMLA controls the transfer of virtual digital assets. 3.   Prevention Of Money Laundering Act (PMLA) formulated in the year 2003 . Which of the following statements given above is/are correct?Solution
Virtual Digital Assets service providers/businesses have now become the ‘Reporting Entities’ under PMLA Act 2002 , and they must follow similar reporting standards and KYC norms as the other regulated entities like banks, securities intermediaries, payment system operators, etc. PMLA-covered activities include: Exchange of Virtual digital assets (VDA) and fiat currencies, Change between one or more VDA types, etc. The Prevention o f Money Laundering Act (PMLA) formulated in the year 2002 has undergone various critical changes from time to time in order to give itself more strength to deal with the offence of money laundering.
Which is the state bird of Chandigarh?
The Government of India is setting up deregulation commissions for:
What term describes the natural breakdown of rocks on Earth's surface due to environmental factors?
The second most number of times budget was presented byÂ
Rapido, after its recent funding round, became the ____ Indian startup to achieve unicorn status this year.
National Housing Bank, the apex financial institution for housing, is a wholly owned subsidiary of which of the following organization?Â
Consider the following pairs about the leaders and places of the revolt of 1857?
Which day is observed as World Kindness Day every year?
Who is the author of the book “Da Vinci Code”?
Which of the following is not correct about ARR method?
