The Enforcement Directorate (ED) has reported discovering ₹2,500-crore in violations related to the Foreign Exchange Management Act (FEMA) during its investigation into cryptocurrency transactions.
This probe specifically focuses on cross-border crypto transfers originating from Bengaluru, highlighting the growing scrutiny of digital asset transactions by regulatory authorities.
As the ED intensifies its examination of these financial activities, the implications for the cryptocurrency market in India could be substantial.