Money laundering is the act of disguising the proceeds of crime by transforming “dirty” money into “clean” money that appears to have been legitimately acquired. Money laundering is an enormous problem that has the potential to destabilize economies, increase corruption, and fuel organized crime. The Prevention of Money Laundering Act (PMLA) was enacted in 2002
In today’s world, where the internet has made transactions possible with a single click, it has also given birth to money laundering, terrorist financing, and many other illegal activities. Therefore, in order to combat these activities, the government has introduced a set of rules and regulations. One of the most important regulations is the implementation
Enhanced Due Diligence : Identifying High-Risk Customers Read More »
Transfer Of Cryptocurrency On Wallets Of Other Persons & The Trap Of Benami Law- Pursuant to a Public Interest Litigation Vijay Pal Dalmia Vs. Union of India, Ministry of Home Affairs, Ministry of Finance & Reserve Bank of India being W.P.(C) No. 001071 / 2017 before the Supreme Court of India, the Government of India has
Transfer Of Cryptocurrency On Wallets Of Other Persons & The Trap Of Benami Law Read More »
Setting up a company in India can be an exciting and rewarding endeavor. However, it requires careful planning and adherence to legal and regulatory requirements. To help you navigate the process smoothly, we have prepared a comprehensive checklist that covers all the necessary steps and documents. Whether you’re a budding entrepreneur or an established business
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“As long as the music’s playing, you’ve got to get up and dance” – Charles ‘Chuck’ Prince NFTs and the music industry have the idyllic chemistry for a much deeper connection, but IP limitations and regulatory scepticism raises problems of ‘authenticity’ and ‘copyrightability’. Introduction NFTs are the world’s first digital Veblen goods.[1]Non-Fungible Tokens (NFTs) are
NFTs: A Boon for Independent Artists or An “Ecological Nightmare Pyramid Scheme” Read More »
The acronym “NFT” stands for “non-fungible tokens” and these are basically asset backed tokens or digital assets with unique identification codes and metadata recorded in a blockchain ledger representing the ownership and authenticity of an associated unique tangible or intangible asset. As suggested by its name, NFTs are characterized by their non-fungible nature. In economic
NFTs and Indian Law: Understanding the Legal Landscape Read More »
Types of cybersecurity incidents mandatorily to be reported by service providers, intermediaries, data centers, body corporate and Government organizations to CERT-In in India [Rule 12(1)(a) of The Information Technology (The Indian Computer Emergency Response Team and Manner of Performing Functions and Duties) Rules, 2013 (https://www.meity.gov.in/writereaddata/files/G_S_R%2020%20%28E%292_0.pdf) ] 1. Targeted scanning/probing of critical networks/systems 2. Compromise of
Process Of Attachment, Adjudication, Confiscation Of Property & Trial Under PMLA
Process Of Attachment, Adjudication, Confiscation Of Property & Trial Under PMLA Read More »
Pre-covid, thinking for a metaverse could have been considered out of the box but nowadays where meetings, convocations, functions, classrooms, and other activities have gone online, reaching out for Metaverse can be considered a more intricate, technically complex, but seemingly fair advancement. It was not an instant development; rather, its evolution can be traced to
Metaverse: Indian Law & An Intricate Controversial Universe Read More »
There are no specific laws relating to market makers in relation to cryptocurrency exchanges in India. There are certain guidelines that have been promulgated by SEBI (Securities and Exchange Board of India), however these are applicable only to Shares and inrelation to certain stock exchanges only. These regulations may be found here. These SEBI Guidelines
Cryptocurrency Exchange Law in India: Insights on Market Makers Read More »