ED RAIDS 5 CRYPTO PLATFORMS OVER ALLEGED FEMA VIOLATIONS.
Key findings include:
- Alleged unauthorized cross-border crypto transfers exceeding ₹2,500 crore
- Searches conducted at 6 locations in Bengaluru
- Platforms under scrutiny include Transak, Xpat (Remit2Any), Onramp .money, Onmeta and Carret
- ED alleges firms used USDT and other crypto assets to facilitate cross-border remittances outside RBI regulations
- Around ₹6 crore in bank balances frozen so far
Further investigation is underway.
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