New Delhi, 18 March 2026
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).
Table of contents
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.
FIU-IND Officials Share Regulatory Insights
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.
FIU-IND’s Role in Strengthening Financial Integrity
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.
Focused Sessions on AML/CFT Compliance
The workshop included a series of focused sessions on key aspects of AML/CFT compliance for VDA service providers. These sessions discussed transaction monitoring and suspicious transaction reporting. Moreover, they covered enterprise-wide risk management frameworks. They also explained governance and oversight roles of designated directors and principal officers. Additionally, they highlighted institutional approaches to AML/CFT training and compliance culture. Afterward, the FIU and industry participants held an interactive discussion. They addressed practical implementation challenges and shared operational best practices.
Industry Participation and Stakeholder Engagement
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.
BWA Chairperson Highlights Industry Commitment
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.”
Focus on Future Collaboration
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.
About Bharat Web3 Association
Bharat Web3 Association represents leading participants in India’s Web3 ecosystem. Moreover, it promotes responsible innovation and strengthens compliance standards. It also facilitates dialogue between industry stakeholders and policymakers. As a result, it supports the growth of a secure and transparent digital asset ecosystem in India.
About FIU-IND
The Financial Intelligence Unit–India (FIU-IND) serves as the national agency for receiving, processing, analysing, and sharing information on suspicious financial transactions. Moreover, the government established FIU-IND under the Prevention of Money Laundering Act (PMLA). As a result, it plays a key role in safeguarding India’s financial system by strengthening efforts to combat money laundering and terrorist financing.
FIU-IND works closely with domestic law enforcement agencies, regulatory authorities, and international counterparts to detect and prevent financial crimes. It also supervises compliance by reporting entities with their obligations under the PMLA, including customer due diligence, reporting of suspicious transactions, and implementation of risk-based AML/CFT controls.
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