Cathie Wood's Ark Investment has raised more than $16 million for two new private crypto funds as digital assets resume rally despite increasing regulatory pressure.

The Enforcement Directorate of India has taken a step to seize $115.5 million in the crypto sphere under the speculation of money laundering cases. A few crypto ventures may have been spooked, but the measure ensures that the interests of investors and crypto platforms are safe at every step.

India and the United Arab Emirates (UAE) have entered into a collaboration on central bank digital currencies (CBDCs), according to the official announcement published on March 15, 2023.

India and the United Arab Emirates (UAE) will collaborate on central bank digital currencies (CBDCs) by jointly conducting pilot(s), according to an announcement on Wednesday.

Blockchain and DeFi are being considered by the financial services industry as potentially more reliable as well as efficient technical resources. The outlook is bright because when many people join the digital asset business, both DeFi and Blockchain will create new features and increase in scalability and security.

India is taking a significant step towards regulating the cryptocurrency industry by expanding the Prevention of Money Laundering Act (PMLA) to include digital assets.

India’s Enforcement Directorate is investigating “several” crypto cases for money-laundering schemes and has seized $115.5 million to date in such crimes, the Ministry of Finance said, the latest in a series of crackdown by the authorities on the nascent space that is already reeling from the tremulous market conditions.

On Saturday, India’s crypto industry pulled off a near coup by bringing lawmakers and members of India’s ruling party to a conference discussing Web3.

India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s efforts to prevent virtual digital assets “from being misused by bad actors.”

Key components of the financial technology environments include virtual payment systems, virtual financing, Banktech, Insurtech, Regtech, Cryptos, as well as capital technology.