New Delhi, Mar 18: The Bharat Web3 Association (BWA) organised a closed-door workshop on Operationalising the Updated AML/CFT Guidelines for Virtual Digital Asset Service Providers (VDA SPs) in New Delhi. The workshop brought together officials from the Financial Intelligence Unit–India (FIU-IND) and representatives of Virtual Digital Asset Service Providers registered as Reporting Entities under the Prevention of Money Laundering Act (PMLA).
Shri Amit Mohan Govil, Director, Financial Intelligence Unit–India (FIU-IND), delivered the Chief Guest Address at the workshop. In his address, he emphasised the importance of effective implementation of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations by entities operating in the virtual digital asset ecosystem. He further highlighted the role of robust compliance frameworks in safeguarding the integrity of India’s financial system, stressing the importance of continued stakeholder and industry engagement in implementing them.
The workshop was organised to facilitate structured engagement between FIU-IND and industry stakeholders on the interpretation and implementation of the updated AML/CFT guidelines applicable to VDA service providers. The discussions focused on strengthening compliance preparedness, enhancing supervisory understanding, and addressing operational challenges faced by reporting entities.
Senior officials from FIU-IND, including Smt. . Ashima Batra, Additional Director, FIU-IND, addressed the delegates and shared regulatory perspectives on supervisory expectations and compliance practices for reporting entities.
The Financial Intelligence Unit–India plays a central role in India’s financial integrity architecture and is widely respected globally for its work in strengthening the country’s anti-money laundering and counter-terrorist financing framework. Through its regulatory oversight, intelligence analysis, and coordination with domestic and international agencies, FIU-IND has contributed significantly to aligning India’s financial system with global AML/CFT standards. Its engagement with emerging sectors, including virtual digital assets, reflects its continued commitment to ensuring that financial innovation develops within a strong compliance and governance framework.
The workshop included a series of focused sessions addressing key aspects of AML/CFT compliance for VDA service providers. These included discussions on transaction monitoring and suspicious transaction reporting, enterprise-wide risk management frameworks, governance and oversight responsibilities of designated directors and principal officers, and institutional approaches to AML/CFT training and compliance culture. The sessions were followed by an interactive discussion between the FIU and industry participants on practical implementation challenges and operational best practices.
The workshop was attended by representatives from leading VDA service providers and members of the Bharat Web3 Association. The event provided an opportunity for regulators and industry stakeholders to exchange perspectives on strengthening compliance mechanisms and enhancing regulatory clarity for the sector.
Mr. Dilip Chenoy, Chairperson, Bharat Web3 Association, said,
“BWA remains committed to supporting a responsible and compliant digital asset ecosystem in India. The guidance provided by FIU-IND has been instrumental in strengthening AML/CFT compliance across the sector. This workshop was organised to facilitate dialogue between regulators and industry participants and to support reporting entities in operationalising the updated guidelines.”
The workshop concluded with a discussion on strengthening collaboration between regulators and industry stakeholders to further enhance compliance standards across the virtual digital asset ecosystem in India.
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