ED case against five Bengaluru-based entities for 'unauthorised' cross-border crypto transactions

Short summary

The Enforcement Directorate initiated a probe into five Bengaluru-based companies for unauthorized cross-border crypto transactions worth Rs 2,500 crore. Investigators found regulatory evasion through ads promoting fiat-to-crypto swaps and shell companies. ED froze Rs 6 crore in bank accounts.

• •ED investigating 5 Bengaluru companies for Rs 2,500 crore unauthorized crypto transactions
• •Regulatory evasion found via ads and shell company structures
• •Rs 6 crore in bank accounts frozen during investigation

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