• Assets worth ₹289.68 crore of Zanmai Labs Pvt Ltd, also known as WazirX, have been attached in a crypto exchange case
Parliament was informed on Monday that the Enforcement Directorate (ED) has attached assets worth ₹907 crore of crypto exchanges and arrested three people in a money laundering case.
Addressing Parliament, Minister of State for Finance Pankaj Chowdhary said that Central Goods and Services Tax (GST) officials have detected GST evasion worth ₹87.60 crore by 12 crypto exchanges. The authorities have also recovered ₹110.97 crore including interest and penalty.
In eight cases, investigation has started and is underway. Four cases have been settled on payment of tax along with interest and penalty.
The Union minister said that assets worth ₹289.68 crore of Zanmai Labs Pvt Ltd, also known as WazirX, have been attached to the exchange in connection with the crypto exchange case. The minister said the matter pertains to violation of provisions of the Foreign Exchange Management Act (FEMA), Chowdhury said.
In a written reply to a question in the Lok Sabha, the minister said that the Enforcement Directorate is probing several cases related to crypto fraud in which some crypto exchanges have also been found involved in money laundering.
Chowdhary said, "Till December 14, 2022, proceeds of crime to the tune of Rs 907.48 crore have been attached/confiscated, three persons arrested and four prosecution complaints filed before the Special Court, PMLA in these cases. " Currently, crypto assets are unregulated in India.
“Crypto assets by definition are borderless and require international cooperation to prevent regulatory arbitrage. Therefore, any legislation for regulation or ban can only be done with significant international cooperation on assessment of risks and benefits and development of common classifications and standards.” can be effective." Union Ministers attended.
No comments:
Post a Comment