In accordance with a notification issued by the Ministry of Finance, the trading of cryptocurrencies or virtual assets shall fall under the purview of the Prevention of Money Laundering Act, 2002. This includes the exchange between virtual digital assets and fiat currencies, exchange between one or more types of virtual digital assets, and the transfer of virtual digital assets.
Furthermore, the possession or administration of virtual digital assets and involvement in financial services related to the offer and sale of virtual digital assets shall also be encompassed by the Act.