• GUNA SEKAR S
• PREETHAM KUMAR B

This study examines how cryptocurrencies affect India's anti-money laundering (AML) and counter-terrorist financing (CTF) efforts while evaluating the efficacy of current legislation and offering policy recommendations. The research emphasises the difficulties that cryptocurrencies provide in tracking down and stopping financial crimes including money laundering and terrorism funding. It looks at the AML and CTF legislation that are now in effect in India and points out any shortcomings or holes in the rules. In order to address the dangers posed by cryptocurrencies, the research highlights the significance of establishing a balance between innovation and security in the financial sector. Due to their anonymity and use of privacy coins, cryptocurrencies pose particular difficulties for conventional AML and CTF procedures. Decentralised exchanges make it harder to keep track of regulatory compliance, and the current regulatory framework still has holes that need for solutions. The paper presents legislative recommendations that are pertinent to the Indian context to strengthen AML/CFT efforts in the bitcoin industry. These suggestions cover the real-time tracking of bitcoin transactions using blockchain analytics and artificial intelligence. To encourage innovation and ensure compliance with AML/CFT requirements, a risk-centered regulatory strategy is advised. International cooperation and information exchange are crucial for using cryptocurrencies to combat global financial crimes. To fully realise the potential of cryptocurrencies for inclusive prosperity, policymakers are recommended to carefully strike a balance between encouraging innovation and putting in place strong security measures. The report recognises that cryptocurrencies have the potential to increase the financial inclusion of disadvantaged people. Policymakers, regulatory bodies, and industry players must collaborate to develop and put into place policies that consider the developing bitcoin ecosystem. For this, a comprehensive and flexible plan is required. India can boost its AML/CFT measures and protect the integrity and stability of its financial system by utilising cutting-edge technology and encouraging global collaboration. India will be able to successfully battle financial crimes and utilise the potential offered by cryptocurrencies to promote financial inclusion and innovation with the help of strong policy implementation.

Counter-terrorist financing, cryptocurrencies, anti-money laundering, innovation, strategy.

"Impact of cryptocurrencies on anti-money laundering and counter terrorist financing ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 8, page no.e830-e837, August-2023, Available :http://www.jetir.org/papers/JETIR2308496.pdf

"Impact of cryptocurrencies on anti-money laundering and counter terrorist financing ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 8, page no. ppe830-e837, August-2023, Available at : http://www.jetir.org/papers/JETIR2308496.pdf