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 police conducted a raid at Chimbel and caught six accused persons red handed. The accused persons are identified as Akash Hiteshbhai Pancholi, 28; Thremho Kechingba, 23; Sanam Ringsa Bathari, 23; Anand Sujeet Sengyung, 26; Lairim Monmohan Hojai, 19 and Hemring Sonai Girisa, 22.
Jintu Das was demanding money from his mother Renu Das for buying a new mobile phone. According to police, when his demand was turned down, Jintu, aged around 20 years, hit his mother with an iron rod. She got severely injured and later succumbed to the injuries.
The party said that the "utterly horrible" language used by the BJP leaders shows how much they hate Delhiites and how they command zero respect for the feelings of the people of Delhi. Through their open threats shot at the CM elected by the 2 crore people of Delhi, the BJP is disrespecting not only the mandate given to CM Arvind Kejriwal but is also damaging the social fabric of Delhi, it said.
The investigations have revealed that a terrorist, gangster, and drug smugglers syndicate led by Bishnoi was involved in many targeted killings and extortion from businessmen, professionals including doctors and this had created terror among the public at large.
Meanwhile, a polygraph test on Aaftab is presently underway at the forensic science laboratory (FSL) in Rohini. Official sources said that a pre-medical session to gain some preliminary information which will be later used to develop diagnostic questions, as well as a scientific session was conducted on Aaftab at the FSL office on Tuesday evening.
According to the Chief Minister, Thal Shadap, 45, Nikhasi Dhar, 65, and Sik Talang 55, died on the spot, while Tal Nartiang, 40 and Chirup Sumer, 40 succumbed to their injuries in the hospital.
