Circular regarding Customer Due Diligence for transactions in Virtual Currencies (VC) (Circular dated – 31.05.2021) – RBI
View PdfCircular regarding Customer Due Diligence for transactions in Virtual Currencies (VC) (Circular dated – 31.05.2021) – RBI
- Banks, as well as other entities addressed above, may, however, continue to carry out customer due diligence processes in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT) and obligations of regulated entities under Prevention of Money Laundering Act, (PMLA), 2002 in addition to ensuring compliance with relevant provisions under Foreign Exchange Management Act (FEMA) for overseas remittances.
