India2026.10.29TokenPost

India's Enforcement Directorate Investigates Crypto Transactions Exceeding 5,000 Crore Rupees

• ED searches conducted October 27 under the Foreign Exchange Management Act (FEMA); scale disclosed October 29 via official X post as exceeding 5,000 crore rupees (about 50 billion rupees)
• Investigation focuses on cross-border crypto transactions involving shell companies in tax havens and large OTC deals
• Binance and Bybit were cited as platforms used for overseas payments, but the ED post did not confirm either exchange as a formal investigation target