A
Requiring Virtual Asset Service Providers to share sender and receiver information during crypto transfers.
B
Restricting individuals from carrying physical cash across international borders without declaration.
C
Imposing custom duties on the import of hardware cryptocurrency wallets.
D
Mandating physical passport checks for opening decentralized finance (DeFi) wallets.
Correct answer: (a) Requiring Virtual Asset Service Providers to share sender and receiver information during crypto transfers.
Explanation
Option A is correct because the Travel Rule is an FATF mandate requiring Virtual Asset Service Providers to share sender and receiver information during crypto transfers. Options B, C, and D are incorrect and do not describe the crypto Travel Rule.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2026 · Q20 · GS III · 15 marks
Discuss counterfeit currency and money laundering as major sources of terror funding in India. State the actions being taken at International level to check these menaces. Highlight the role of Financial Action Task Force (FATF) and methods of compliance by its member states in preventing terror funding. -
2021 · Q9 · GS III · 10 marks
Discuss how emerging technologies and globalisation contribute to money laundering. Elaborate measures to tackle the problem of money laundering both at national and international levels. -
2018 · Q20 · GS III · 15 marks
India's proximity to two of the world's biggest illicit opium-growing states has enhanced her internal security concerns. Explain the linkages between drug trafficking and other illicit activities such as gunrunning, money laundering and human trafficking. What countermeasures should be taken to prevent the same? (250 Words, 15 Marks). -
2024 · Q48 · General Studies · 2 marks
Which one of the following words/phrases is most appropriately used to denote "an interoperable network of 3D virtual worlds that can be accessed simultaneously by millions of users, who can exert property rights over virtual items"? -
2023 · Q16 · GS III · 15 marks
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