Enforcement Directorate (ED) and the Income Tax Department (I-T Dept), among other agencies, are probing three digital asset management companies after the Financial Intelligence Unit (FIU) raised an alarm over their role in illegal drug transactions worth Rs 28,000 crore. The ED and the I-T Dept have received the detailed findings from the FIU, a report in the Economic Times (ET) said.
"Digital currency was used to buy and sell drugs and some of these companies facilitated it...So far the agency has been able to track transactions worth Rs 28,000 crore," an official told ET.
Around 200 transactions conducted in Nigeria, the Cayman Islands and the British Virgin Islands, have been zeroed in upon by the FIU. The transactions were