ED Searches 5 Crypto Platforms Over Alleged Illegal Cross-Border Transfers

by · Inc42

SUMMARY

  • The searches, which took place on June 17, were conducted at six premises linked to Transak, Carret, Xpat, BuyHatke and Onmeta
  • As part of the investigation, the Enforcement Directorate has frozen multiple bank accounts used for undertaking transfers, having balances worth ₹6 Cr
  • ED said that its probe revealed that none of the five entities were designated as authorised entities by the RBI for offering cross-border transfer of payments via VDAs