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 vessel, worth around Rs 30 crore, was allgedly being used by by Pankaj Mishra, a close aide of Jharkhand Chief Minister Hemant Soren. It was being operated illegally without having any permit from Sukargarh Ghat, Sahebganj, the agency said, adding that the vessel was seized during a search operation conducted on Tuesday.
The accused were identified as Mohd Sahil, 28, Mohd Waseem, 18, Mohd Yusuf, 29, and Ashish Chawla, 43. Deputy Commissioner of Police, South, Benita Mary Jaiker said that the matter came to notice when a PCR call was received on July 18, reporting that a courier package having 80 knives was found dropped in C.R. Park area.
Officials said under a pilot project net metering roof top solar power plant in four mandis are being installed and such solar power plants will be installed in 23 mandis. The minister said a project report should be prepared for all grain and vegetable markets for setting up net monitoring solar power plants so that the people can be provided with affordable electricity.
Congress leader Rahul Gandhi was released by the Delhi Police almost over six hours after he was detained during his party's march from Parliament to Rashtrapati Bhawan, officials said Tuesday. "They have been released," Deputy Commissioner of Police (New Delhi) Amrutha Gugolth said while responding to a query about the Congress party leaders' detention.
Anmol Rattan Sidhu resigned from his post earlier in the day. In a resignation letter to Chief Minister Mann, Sidhu said he was resigning from the post owing to personal reasons. He was appointed to the post in March this year.
The DGP said the arrested persons had also tried to kill three associates -- Dagar, Fateh Nagar, and Kaunsal Chaudhary -- of Gangster Sukha Duneke when the police had brought them on production warrant in connection with kabbadi player Sandeep Nangal Ambia murder case.
