BusinessPhoto: Deccan HeraldED Investigates Rs 5,000 Crore Cross-Border Crypto Transfers
The Enforcement Directorate (ED) is probing alleged cross-border cryptocurrency transactions worth around Rs 5,000 crore, focusing on stablecoins. The investigation targets Bengaluru-based RPFAS Technologies Private Limited and platforms like CoinSwitch, Mudrex, Saber.money, and Instadapp. Raids were conducted on October 27 in Bengaluru and Madhya Pradesh under FEMA. The ED alleges unauthorized instant money transfers bypassing RBI regulations by converting fiat to stablecoins and selling them on crypto exchanges.
Deccan Herald··Bengaluru




