The ED has launched investigations into alleged violations of the Foreign Exchange Management Act (FEMA) involving two crypto platforms and decentralised finance protocol

This is the second such investigation that the agency has revealed in recent months. In June, the ED searched premises linked to five Bengaluru-based platforms, over alleged unauthorised cross-border crypto transfers

ED’s Bengaluru Zonal Office conducted searches at three premises in Bengaluru and one in Madhya Pradesh on October 27 under Section 37 of FEMA, 1999

The Enforcement Directorate (ED) has launched investigations into alleged violations of the Foreign Exchange Management Act (FEMA) involving crypto platforms Mudrex and…