India's Ministry of Finance stated that the Enforcement Directorate has seized assets worth approximately 41.9 billion rupees in crypto-related cases, and one suspect has been declared an economic offender.

Odaily Planet Daily News: In a written response to parliament, India’s Ministry of Finance stated that the Enforcement Directorate (ED) has, under anti-money laundering laws, seized, frozen, or confiscated assets totaling approximately 41.8989 billion rupees in multiple crypto-related cases. The ED has also arrested 29 people and filed 22 prosecution complaints, with one suspect being officially designated as an “economic offender.” Meanwhile, the Central Board of Direct Taxes (CBDT), in its search and seizure operations targeting Virtual Digital Assets (VDA), has identified about 8.8882 billion rupees in undeclared income and has issued notices to 44,057 taxpayers who did not report VDA information in their income tax returns. The Ministry of Finance stated that crypto assets currently remain unregulated in India. The government is working on capacity building to strengthen monitoring and investigation of VDA transactions and emphasized that, given the cross-border nature of crypto assets, any effective regulatory framework would require extensive international cooperation in areas such as risk assessment and classification standards. (Business Standard)