Exchange between virtual digital assets and fiat currencies to come under PMLA
Money laundering is the process of turning illegally obtained funds into legal ones. The process of money laundering is typically broken down into three steps: placement, layering, and acquisition of wealth derived from the use of illicit funds.
The PMLA, 2002 was enacted by the government to combat the practise and make provisions for the forfeiture of assets obtained through it. Source: Pixabay