NEW DELHI, Dec 8: The Enforcement Directorate (ED) has attached proceeds of crime worth ₹4,189.89 crore in crypto-related investigations under the Prevention of Money Laundering Act (PMLA) and declared one accused as a Fugitive Economic Offender, the government informed Parliament on Monday.
Minister of State for Finance Pankaj Chaudhary, in a written reply to the Lok Sabha, said the Central Board of Direct Taxes (CBDT) also detected undisclosed income of ₹888.82 crore from Virtual Digital Asset (VDA) transactions during search and seizure operations. The CBDT has issued 44,057 communications to taxpayers who traded or invested in crypto assets but failed to report them under Schedule VDA in their Income Tax Returns.
The government noted that VDAs have been brought under the PMLA framework to strengthen oversight and enforcement. The ED has so far arrested 29 individuals and filed 22 prosecution complaints in crypto-related cases, along with attaching, seizing or freezing assets worth over ₹4,189 crore.
Chaudhary said crypto assets remain unregulated in India and pose cross-border challenges, making strong international coordination essential to develop an effective regulatory framework. He emphasized that global collaboration is required for risk evaluation, standard setting and preventing regulatory arbitrage in crypto markets. (Agencies)
