According to reports, the Directorate of Revenue Intelligence (DRI) recently apprehended a close aid of Munjal in relation to money laundering and the possession of undeclared foreign currency
One of the biggest challenges in combating money laundering through cryptocurrencies is the lack of regulations. They are not currently recognised as legal tender in India.
The ED is investigating several cases related to cryptocurrency frauds wherein a few crypto exchanges have been found involved in money laundering, says MoS Pankaj Chaudhary
ED says in its earlier searches, ₹17.32 cr cash was recovered at houses of alleged suspects, while 85.91870554 Bitcoins, equal to ₹13.56 cr, found on Binance, were frozen.
Bank accounts unfrozen after ED received all details and documents related to the money laundering probe; most “suspicious” accounts blocked in 2020-21, says WazirX