ED probing 7 crypto cases, seized assets of 135 crore: Govt

NEW DELHI: The Enforcement Directorate is probing seven cryptocurrency-related money laundering cases and has so far attached assets worth more than Rs 135 crore, the government informed the Parliament on Monday. It has said multiple cases have emerged where black money generated in India has been laundered out of the country after converting them into cryptocurrencies.

In a written reply in Lok Sabha, junior finance minister Pankaj Chaudhary said, “Investigations conducted by ED so far, revealed that some foreign nationals and their Indian associates have laundered proceeds of crime (PoC) through cryptocurrency accounts at certain exchange platforms.”

In one such case, he said, the ED arrested an accused in 2020 for facilitating foreign-linked accused companies to launder PoC by converting money generated out of crime into cryptocurrencies and thereafter transfer them abroad.

“Prosecution complaint has been filed in this case before the special PMLA court. So far, the ED has attached PoC amounting to Rs 135 crore under the PMLA in above mentioned cases,” he said.

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