India’s Enforcement Directorate investigates $585M crypto remittance case involving Mudrex, Saber.money and Instadapp
India Names Binance and Bybit Among Foreign Platforms in $585M Crypto Remittance Probe
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India’s Enforcement Directorate is investigating approximately $585M in cross-border cryptocurrency transactions involving Mudrex, Saber.money and Instadapp, alleging unauthorized fund transfers. Investigators searched four locations on 27 October under FEMA and said RPFAS Technologies was involved in $538 million and Instadapp in $40 million in suspected non-compliant transactions.
The material breaks down the transaction routes, platforms involved and amounts in the Indian FEMA investigation, making it easier to understand how cross-border stablecoin transfers can fall within the scope of foreign exchange enforcement.
Source:Finance Magnates · financemagnates.com