🚨 BREAKING: 🇮🇳 India's Enforcement Directorate (ED) has raided 5 Bengaluru-based crypto startups over alleged FEMA violations.

📌 Companies involved:
• 🔹 Transak
• 🔹 Carret
• 🔹 Xpat
• 🔹 BuyHatke
• 🔹 Onmeta

💰 ₹2,500 crore in alleged cross-border crypto transfers is under scrutiny, with ₹6 crore in bank accounts frozen.

⚠️ The ED alleges the firms facilitated unauthorized INR-to-USDT overseas transfers without RBI approval. The investigation is ongoing.

#Crypto #India #ED #FEMA