ED searches Bengaluru firm over crypto transactions
BENGALURU: The Enforcement Directorate (ED) conducted searches at three locations in Bengaluru and one in Madhya Pradesh on Tuesday while investing into the alleged unauthorised cross-border financial transactions involving cryptocurrencies worth around Rs 5,000 crore.
The searches were carried out by the ED’s Bengaluru Zonal Office under Section 37 of the Foreign Exchange Management Act (FEMA), 1999, following complaints alleging large-scale violations by city-based RPFAS Technologies Private Limited, which operates the platforms Mudrex and Saber.money.
