Reporting entity - Person carrying on a designated business or profession - certain activities when carried out for or on behalf of another natural or legal person - S.O. 1072(E) - Prevention of Money-Laundering

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 7th March, 2023 S.O. 1072(E). In exercise of the powers conferred by sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to the as the Act), the Central Government hereby notifies that the following activities when carried out for or on behalf of another natural or legal person in the course of business as an activity for the purposes of said sub sub-clause, namely:- (i) exchange between virtual digital assets and fiat currencies; (ii) exchange between one or more forms of virtual digital assets; (iii) transfer of virtual digital assets; (iv) safekeeping or administration of virtual digital assets or instruments enabling control over virtual digital assets; and (v) participation in and provision of financial services related to an issuer s offer and sale of a virtual digital asset. 1 [ Explanation 1 ] :- For the purposes of this notification virtual digital asset shall have the same meaning assigned to it in clause (47A) of section 2 of the Income-tax Act, 1961 (43 of 1961) . 2 [ Explanation 2.- For the purposes of activities specified in this notification, the Regulator within the meaning of clause (fa) of sub-rule (1) of rule 2 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 , shall be the Director, Financial Intelligence Unit, India appointed under sub-section (1) of section 49 of the said Act. ] [F. No. P-12011/12/2022-ES Cell-DOR] SHASHANK MISRA, Director (Headquarter) ****************** NOTES:- 1. Re-Numbered vide Notification No. S.O. 4877(E) dated 09-11-2023 before it was read as, Explanation 2. Inserted vide Notification No. S.O. 4877(E) dated 09-11-2023