ED Raids 5 Crypto Platforms in India Over Alleged FEMA Violations What Happened: India's Enforcement Directorate searched 6 premises in Bengaluru over alleged FEMA violations. Platforms Under Scanner: Transak, Carret, Xpat (Remit2Any), Onramp.money, Onmeta The Allegation: These platforms allegedly used USDT and other stablecoins to move money across borders outside RBI authorised channels. Key Facts 🔹 Searches took place on June 17 🔹 Around 6 crore rupees frozen so far What This Means For You: This targets cross border crypto remittances, not holding or trading. But regulators are watching stablecoin transfers closely, so be careful with international crypto transfers.