The Central National Agency for Financial Intelligence Unit (FIU) of India has imposed a ban on cryptocurrency exchanges and platforms from conducting operations with cryptocurrencies that provide a high level of anonymity, reports The Economic Times. This measure is aimed at combating money laundering and concealing transaction trails.
Cryptocurrency exchanges must cease allowing the deposit and withdrawal of assets that do not disclose their origin, ownership rights, or transaction value. Platforms are also required to collect data on unregistered transfers from client wallets that use private keys.
Earlier, a similar restriction was imposed by the financial regulator of Dubai, banning the use of 'private cryptocurrencies', which include Monero and Zcash. Thus, from January 12, new rules for the circulation of digital assets in the international financial zone of the Dubai International Financial Centre (DIFC) came into effect. According to these rules, trading and transactions with derivative financial instruments are prohibited both within DIFC and outside of it.
