Investigation and intelligence agencies of the government are pressing the Centre to distinctly list crypto currency exchanges under the existing regulatory mechanism, thus making it mandatory for the exchanges to proactively share information regarding suspicious transactions with the police or law enforcement authorities.
On August 17, the issue was discussed at the National Security Strategies conference in the presence of Home Minister Amit Shah.
A senior government official said it had emerged during investigation in the past few months that Chinese shell companies which operate digital loan apps in India, sent funds out of India via the crypto exchanges. “Ownership of crypto currency exchanges, operated in India, by Chinese companies is not yet on record,” the official said.
