📷 Image: Wikimedia Commons / শরদিন্দু ভট্টাচার্য্য
Crime
ED conducts raids in Bengaluru and Madhya Pradesh over alleged crypto FEMA breaches
✍️ The Bengaluru Live
🗓 29 Oct 2026, 10:32 PM
👁 16
The Enforcement Directorate carried out searches in Bengaluru and Madhya Pradesh probing possible violations of the Foreign Exchange Management Act linked to cryptocurrency activities.
The Enforcement Directorate (ED) has initiated search operations in two locations – Bengaluru in Karnataka and an undisclosed site in Madhya Pradesh – as part of a probe into alleged breaches of the Foreign Exchange Management Act (FEMA) involving cryptocurrency transactions.
According to the agency, the raids target individuals and entities suspected of facilitating cross‑border crypto trades without the requisite regulatory approvals, which could contravene India's foreign exchange rules.
The ED has not disclosed the number of persons detained or the exact nature of the evidence seized, but officials indicated that the operation is part of a broader effort to curb illicit crypto activities and ensure compliance with FEMA.
The agency’s action comes amid heightened scrutiny of digital asset markets in India, where recent guidelines have sought to bring crypto exchanges under tighter regulatory oversight.
Further details are expected to emerge as the investigation progresses, and the ED has warned that violations of FEMA will be dealt with stringently.
According to the agency, the raids target individuals and entities suspected of facilitating cross‑border crypto trades without the requisite regulatory approvals, which could contravene India's foreign exchange rules.
The ED has not disclosed the number of persons detained or the exact nature of the evidence seized, but officials indicated that the operation is part of a broader effort to curb illicit crypto activities and ensure compliance with FEMA.
The agency’s action comes amid heightened scrutiny of digital asset markets in India, where recent guidelines have sought to bring crypto exchanges under tighter regulatory oversight.
Further details are expected to emerge as the investigation progresses, and the ED has warned that violations of FEMA will be dealt with stringently.