Liminal, a wallet infrastructure and custody solutions platform, announced the launch of its latest platform update designed to help Web3.0 businesses comply with Prevention of Money Laundering Act, 2002 (PMLA) guidelines in India.
According to an official release, Liminal has updated its platform to come up with an infrastructure by partnering with providers. Reportedly, this includes features such as Travel Rule – Liminal’s integration with Notabene to ensure that transactions of Web3.0 businesses comply with the Travel Rule requirements, Transaction Monitoring – Liminal has integrated with a provider of Suspicious Transaction Monitoring solutions to ensure that transactions are monitored for any suspicious activity, Record Keeping – All the transaction information will be stored for the prescribed period as per the guidelines, and Reporting – Reports can be generated in the prescribed formats to allow submission directly from Liminal’s platform.
“At Liminal, we aim to provide our users with a platform for managing their digital assets. With the launch of our latest platform update, we look forward to offering Web3.0 businesses in India the tools they need to comply with the PMLA guidelines, ensuring that the Web3.0 businesses are able to operate with security and confidence in the business landscape,” Manan Vora, SVP, strategy and business operations, Liminal, said.