ED raids 5 B'luru crypto firms over ₹2,500 crore FEMA violations

The ED conducted searches across multiple locations in Bengaluru over alleged unauthorised cross-border money transfers exceeding ₹2,500 crore through virtual digital assets. The searches, under the FEMA, covered five crypto companies, including Transak, Carretx, Mokshagna Technologies and Buyhatke Internet. The agency alleged that the companies failed to comply with RBI-mandated requirements.