India's Ministry of Finance stated that its Enforcement Agency has seized approximately 41.9 billion rupees in assets related to cryptocurrencies, and one suspect has been identified as an economic fugitive.

According to Odaily Planet Daily, in a written reply to Parliament, the Indian Ministry of Finance stated that the Indian Enforcement Agency (ED) has seized, frozen, or detained assets totaling approximately 41.8989 billion rupees in multiple crypto-related cases under the Anti-Money Laundering Act. It has also arrested 29 people and filed 22 indictments, with one suspect formally identified as an "economic fugitive."

Meanwhile, the Central Board of Direct Taxes (CBDT) of India has uncovered approximately 8.8882 billion rupees in undeclared income during searches and seizures of virtual digital assets (VDAs), and has notified 44,057 taxpayers who did not include VDA information in their income tax returns. The Ministry of Finance stated that crypto assets are currently unregulated in India, and the government is working to build capacity to strengthen the monitoring and investigation of VDA transactions. It also emphasized the cross-border nature of crypto assets, stating that any effective regulatory framework requires extensive international cooperation in areas such as risk assessment and classification standards. (Business Standard)