Enforcement Directorate arrests 29 people in multiple crypto fraud cases

The Enforcement Directorate (ED) has investigated several crypto-related cases under the Prevention of Money Laundering (PMLA), attaching, seizing, and freezing proceeds of crime worth Rs 4,189.89 crore, arresting 29 people, and filing 22 prosecution complaints, while one accused has been declared a fugitive economic offender, the Parliament was informed on Monday.

The



government has brought virtual digital assets (VDAs) under the PMLA 2002, making virtual asset service providers (VASPs) reporting entities and requiring them to submit specified and suspicious transaction reports to FIU-IND.

These reports are analysed and shared with law enforcement agencies for further action, Union Minister of State for Finance, Pankaj Chaudhary, informed the Lok Sabha.