Crypto Transactions, Virtual Assets To Come Under Money Laundering Act
The finance ministry today announced that cryptocurrency transactions would now come under the ambit of money laundering provisions. In a notification, the government said that participation in transactions involving virtual digital assets would be under the Prevention of Money Laundering Act (PMLA). The move is the latest step taken by the government to tighten oversight of digital assets.
Ukraine War: India’s Oil Deals With Russia Dent Decades-Old Dollar Dominance
According to multiple oil trading and banking sources, India’s oil deals with Russia during the Ukraine War dented decades-old dollar dominance.
How Rapper Pras Michél Got Entangled In One Of The Century’s Great Financial Scandals
The phone call awoke Pras Michél in the middle of a spring night in 2017. His “cousin from China” needed to meet, the woman on the line said. The caller was an ex-girlfriend who Michél, a rapper, producer and member of legendary hip-hop group the Fugees, hadn’t spoken to in years. He grew up in a Haitian family in New Jersey and doesn’t have a cousin from China, but he knew what the message meant.
India To Send 20,000 Metric Tonnes Of Wheat To Afghanistan Via Iran Port
During the first meeting of the India-Central Asia joint working group on Afghanistan, India announced that it would send 20,000 metric tonnes of wheat to Afghanistan via the Iran port.
Perth Mint Sold $9 Billion Diluted Gold To China, Got Caught, And Tried To Cover It Up
According to documents uncovered by Four Corners, the Perth Mint got caught selling $9 billion of diluted gold to China and tried to cover it up.
How A Country Goes Bankrupt, In 10 Steps
The past few decades of unnaturally easy money have created a world of “moral hazard” in which a ridiculous number of people borrowed far more than they should have. Now, with money getting tighter, not just businesses and individuals but some governments are staring at the “suddenly” part of that old saying about bankruptcy.
After Hindenburg Report, RBI Keeping Close Watch On Top 20 Conglomerates
One of the people familiar with the matter said to take preventive steps to prevent a build-up of stress that would be transmitted to banks’ balance sheets in the future. After the Hindenburg Report, the RBI stated it will keep a close watch on the top 20 conglomerates.
Adani’s Mundra Power Plant Under Scanner With $1 Billion Debt
According to a report from Bloomberg, Adani’s Mundra Power Plant is under the scanner with a $1 billion debt.
India Dumps Dollar In Trade With Sri Lanka
After a discussion held in the Sri Lankan capital, Colombo, last week, India has decided to dump the US dollar in trade with Sri Lanka.
Provide Info On Hezbollah Financial Network Get $10 Million Reward
The US State Department Rewards for Justice Program has announced a reward offer of up to $10 million for any information which leads to the disruption of financial mechanisms of Lebanon’s Hezbollah.