India Tightens Crypto Monitoring in Border and Sensitive Regions

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The story "India Tightens Crypto Monitoring in Border and Sensitive Regions" was covered 1 days ago by TheNewsCrypto, a news publisher based in United Arab Emirates.

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TheNewsCrypto 1d ago

India Tightens Crypto Monitoring in Border and Sensitive Regions - TheNewsCrypto

Quick Summary:

The Indian Government has instructed the crypto exchanges functioning in India to be extra cautious for transactions associated with persons residing in Jammu and Kashmir and in border areas. The financial intelligence unit, the central agency that limits money laundering and financial crimes, instructed this to various local Crypto platforms.

Meanwhile, privacy-focused coins such as Monero and Z-Cash, which are highly anonymous, are not listed on Indian platforms yet.

However, once the money is transferred to Binance, it can be transferred anywhere, which becomes a challenge to track because of no clear regulations around foreign cryptocurrency transfers.