India's latest crypto legislation marks a significant step toward regulating the cryptocurrency ecosystem by addressing high-risk financial practices, including chit funds and multi-level marketing (MLM) schemes. The new law introduces strict guidelines aimed at enhancing market transparency and investor protection, with provisions such as mandatory registration for crypto-based businesses, KYC/AML norms, and penalties for non-compliance. By targeting fraudulent activities that exploit the unregulated nature of cryptocurrencies, the law seeks to foster trust among investors and promote legitimate business operations. As India strengthens its crypto regulation framework, the move is expected to inspire other emerging economies to adopt similar measures, ultimately driving a more secure and sustainable global crypto market.
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