Rs 936 cr related to crypto currency attached or seized by ED: Govt
Darpan News Desk The Canadian Press, 06 Feb, 2023 11:50 AM
New Delhi, Feb 6 (IANS) Nearly Rs 936 crore related to crypto currency has been attached or seized by the Enforcement Directorate (ED) under PMLA, Union Minister of State for Finance, Pankaj Chaudhary said on Monday.
Besides, five persons have been arrested and six prosecution complaints (PCs) including one supplementary PC have been filed before the Special Court, PMLA in these cases, he stated.
Chaudhary in a written reply to a question in Lok Sabha on Monday said that crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage.
Under Foreign Exchange Management Act, 1999 (FEMA), assets amounting to Rs 289.28 crore have been seized under section 37A of FEMA and one show-cause notice to crypto currency exchange Zanmai Labs Pvt Ltd, known as WazirX and its directors under FEMA for transactions involving cryptocurrencies work Rs 2,790 crore has also been issued.
Therefore, the Minister said, any legislation for regulation or for banning can be effective only with significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards.
The Minister stated that the ED is investigating several cases related to crypto currency frauds wherein a few crypto exchanges have also been found involved in money laundering. Necessary action as per provisions of Prevention of Monyy Laundering Act, 2002 (PMLA) has been taken by the ED.
"As on January 31, 2023, proceeds of crime amounting to Rs 936 crore have been attached/seized/freezed, 5 persons have been arrested and 6 prosecution complaints (PCs) including 1 supplementary PC have been filed before the Special Court, PMLA in these cases," said the reply.
Giving more information, the Minister said that RBI has been cautioning users, holders and traders of Virtual Currencies (VCs) vide public notices on December 24, 2013, February 1, 2017 and December 5, 2017 that dealing in VCs is associated with potential economic, financial, operational, legal, customer protection and security related risks.
RBI, vide its circular dated May 31, 2021 has also advised its regulated entities to continue to carry out customer due diligence processes for transactions in VCs, in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT), obligations under Prevention of Money Laundering Act (PMLA), 2002, etc in addition to ensuring compliance with relevant provisions under Foreign Exchange Management Act (FEMA) for overseas remittances, the Minister added.
The woman suffered severe burns and has been admitted to RIMS, Ranchi. The FIR has been lodged on the basis of the victim's statement, against the men who are all said to be her relatives and acquaintances.
There were around 244 passengers on-board the flight which landed at Jamnagar airport at around 9.49 p.m. After receiving the bomb threat, a large number of police personnel were deployed at Dabolim airport in Goa and senior officers held a meeting over the incident.
The girl was rushed to a hospital, where her condition is stated to be out of danger, an official said. The incident occurred at Prathmik Vidyalaya, opposite Model Basti near Rani Jhansi road in Delhi.
Delhi Police had submitted before the court that the investigation was in progress and requested for extension of his judicial custody. Poonawalla, who is accused of killing his live-in partner Walkar and then chopping her body into 35 pieces is currently lodged in the Tihar jail.
Apart from the arrest of two juveniles in conflict with law, the remaining four module members arrested have been identified as Gurpreet Singh, alias Gopi Numberdar (18) of Naushera Pannua; Gurlal Singh, alias Gahla (19) of Chohla Sahib; Surlalpal Singh, alias Gurlal, (21); and Jobanpreet Singh, alias Joban (18) of Naushra Pannua.
Among the H and L, the H-1B and L-1 are among the most popular non-immigrant work visas in the US. In October this year, the US Embassy in India released over 1,00,000 appointments for H and L visas for workers and their families to cut down the wait time.
