Cryptocurrencies have been associated with money laundering due to their perceived anonymity and lack of regulation. The inclusion of virtual digital assets in the Prevention of Money-laundering Act, 2002 is first step in tackling illicit activities via cryptocurrencies. However, there are major challenges in implementation of the same. Examine.

9. Cryptocurrencies have been associated with money laundering due to their perceived anonymity and lack of regulation. The inclusion of virtual digital assets in the Prevention of Money-laundering Act, 2002 is first step in tackling illicit activities via cryptocurrencies. However, there are major challenges in implementation of the same. Examine.

Reference: The Hindu