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.
Statements:Â Â Â Â Â
No book is a pencil.
All books are boards.
All boards are dusters.
No eraser is a duster.
...
Statements:All circles are rectangles.
No rectangle is a square.
Conclusions:I. No square is a rectangle.
II. Some rectangles are...
Statements : Some eggs are chickens.
No chicken is a hen.
No hen is a pigeon.
Conclusions : I. Some eggs may be hens.
II....
Statements :
All sparrows are parrots.
No parrot is bird.
All birds are peacocks.
Conclusions:
I. Some birds are ...
Statements: Some cars are scooters.
      All scooters are bikes.
Conclusions: I. some cars are bikes.
   II. Some...
Statements:Some students are Rich.
No Rich is a teacher.
Conclusions:I. Some teacher are not Rich.
II. Some Rich are students.
Statements: All flowers are books.
All books are carpets.
Some carpets are keys.
Some keys are locks.
Conclusions:I. Some ke...
Statement:
At-least some chairs are tables.
A few tables are fans.
Only a few windows are tables.
All tables are doors.
Statement:Â
Some jeans are not shirt.
All shirts are pant.
Some pants are not blazers.
Conclusion:
I. Some blaze...
Statements:
Only a few passage is comprehension
A few comprehension is language
All language is story
Conclusions: ...
