India’s Financial Intelligence Unit has instructed crypto exchanges to enhance monitoring of transactions in Jammu and Kashmir due to concerns over terrorism financing. Specifically, exchanges must identify activities related to private wallets and privacy coins, including Zcash.
This move highlights a shift from general oversight to concentrated efforts on border transactions. The directive follows global incidents, such as a U.S. Case where a man was sentenced for sending significant funds in crypto to support ISIS, raising awareness of illicit uses of cryptocurrency.
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