Government of India has announced a new notification under the Prevention of Money-laundering Act, 2002 (PMLA). The notification, issued by the Ministry of Finance, Department of Revenue, on March 7, 2023, states that certain activities related to virtual digital assets will be considered as business activities for the purposes of the Act.

The notification lists five activities that will be considered as business activities under sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of ...