GK Question

technology medium mcq

Which Indian law requires Virtual Asset Service Providers to register with FIU-IND?

  1. IT Act 2000
  2. PMLA
  3. DPDP Act
  4. SEBI Act

Answer: PMLA

Prevention of Money Laundering Act (PMLA) amended to include VASPs as reporting entities. Requires KYC, transaction monitoring, and suspicious activity reporting. Critical for crypto compliance framework.

Topic Crypto Regulation
Exam Relevance Banking, UPSC, SSC