ED searches crypto firms over alleged Rs 2,500 crore FEMA violations (opens in new tab)

The Directorate of Enforcement (ED) has conducted searches at six premises in Bengaluru as part of an investigation into alleged unauthorised cross-border money transfers using virtual digital assets (VDAs).The searches, carried out on June 17 under the Foreign Exchange Management Act (FEMA), covered entities including Transak Technology India, Carretx Technologies, Mokshagna Technologies, Buyhatke Internet (Onramp.money), and Abhibha Technologies (Onmeta), as per the agency's press release.P...