Compliance-first rails for an emerging asset class
CoinKite Labs Pvt Ltd has applied to the Financial Intelligence Unit – India for registration as a reporting entity under the Prevention of Money-laundering Act, 2002. The application is in progress.
How we stay compliant
FIU-IND registration
Application in progress to register as a VDA service provider reporting entity, under the Ministry of Finance notification of March 2023 that brought VDA activities under PMLA. Our AML programme is built to reporting-entity standards ahead of registration.
KYC & KYB
Full customer due diligence on every entity and its beneficial owners, including PAN, GSTIN, board resolutions and periodic re-KYC.
Transaction monitoring
Rules-based and on-chain analytics monitoring, sanctions and PEP screening, with suspicious-transaction reporting to FIU-IND once registration is granted.
Travel Rule
Originator and beneficiary information exchanged for VDA transfers, consistent with FATF Recommendation 16.
Record keeping
Transaction and identity records retained for the period required under PMLA rules and available to authorities on lawful request.
Tax compliance
TDS under §194S deducted and deposited; 18% GST on fees; statements to support §115BBH computations.
Entity information
| Legal entity | CoinKite Labs Pvt Ltd |
|---|---|
| Corporate identity number | CIN [to be added] |
| FIU-IND registration | Application in progress |
| Category applied for | Reporting entity, VDA service provider (PMLA, 2002) |
| Principal Officer | [Name], [email protected] |
| Designated Director | [Name] |
| Registered office | [Registered office address], India |
FIU-IND registration, once granted, relates to anti-money-laundering and counter-terrorist-financing obligations. It is not a licence to operate, nor an endorsement of CoinKite or any VDA by FIU-IND, RBI, SEBI or any other authority.
Protecting client assets
Segregation
Client assets held in segregated wallets, never used for CoinKite's own trading.
MPC & HSM
Distributed key management with no single point of compromise.
Proof of reserves
Periodic attestation that client liabilities are fully backed.
Data residency
Client data stored in India in line with applicable data-protection law.
Questions from your compliance team?
We share our AML policy, security documentation and due-diligence questionnaire responses with prospective clients under NDA.