Crypto is Not Just a Money Laundering Mechanism: Aruna Sharma

Speaking at a Twitter Space event organized by CoinDCX, Aruna Sharma, economist and former secretary in the Union Ministry of Electronics & IT and Steel, said that with the introduction of taxation on Virtual Digital Assets (VDA) by the government, there are indications that this sector The rules are necessarily coming in. These rules and guidelines mandate who is transacting cryptocurrency. Also, it is indeed a positive sign to allay the apprehensions of the RBI that crypto is not just a mechanism for money laundering. It is noteworthy that the Government of India had recently decided to bring Virtual Digital Assets (VDA) under the purview of the Prevention of Money Laundering Act (PMLA).