MCQ
PMLA / Virtual Digital Assets MCQ - Practice Questions with Answers
Solve 1 PMLA / Virtual Digital Assets questions for RAS/RPSC preparation.
Practice questions
Q1With reference to the recent FIU-IND action against Virtual Digital Asset Service Providers, consider the following statements: 1. The Director of FIU-IND issued notices under Section 13 of the Prevention of Money Laundering Act, 2002 to 15 VDA SPs for non-compliance. 2. The PMLA obligations for such VDA entities depend on their physical presence in India. Which of the statements given above is/are correct?
Explanation
Statement 1 is correct as per the PIB release. Statement 2 is incorrect because the obligations are activity-based and do not depend on physical presence in India. Hence only statement 1 is correct.
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