Question
With reference to Virtual Digital Assets and Prevention
of Money Laundering Act (PMLA) 2002 , consider the following statements: 1.   VDA service providers must adhere to the same reporting requirements and KYC requirements as other regulated companies, such as banks. 2.   The PMLA controls the transfer of virtual digital assets. 3.   Prevention Of Money Laundering Act (PMLA) formulated in the year 2003 . Which of the following statements given above is/are correct?Solution
Virtual Digital Assets service providers/businesses have now become the ‘Reporting Entities’ under PMLA Act 2002 , and they must follow similar reporting standards and KYC norms as the other regulated entities like banks, securities intermediaries, payment system operators, etc. PMLA-covered activities include: Exchange of Virtual digital assets (VDA) and fiat currencies, Change between one or more VDA types, etc. The Prevention o f Money Laundering Act (PMLA) formulated in the year 2002 has undergone various critical changes from time to time in order to give itself more strength to deal with the offence of money laundering.
In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.
Extreme or indefinite...
Select the most appropriate option to substitute the highlighted segment. If no substitution is required select 'No substitution'.
When I was pas...
Even though G-20 countries had disagree on some issues, they ended their summit on a amicable note.Â
In each of the following questions, choose the correct alternative which can be substituted for the below given word/ phrase of words.
Belongi...
Select the option that can be used as a one-word-substitute for the given group of words.
A person who studies insects:Â Â Â Â Â Â Â
...making marks that cannot be removed.
 Among the given alternatives, find the word which can be the best substitute for the given sentence.
Honor or fame given for some achievemen...
Adept
Apex
A. Their four-hour match on Centre Court was an apex .
B. Tinted photographs were an apex substitute for colour.
C. The man at...
Choose an option, which can be substituted for a given word/sentence/phrase out of given options.
A person who can speak two languages fluently...
