India’s ED targets on-ramp/off-ramp firms in cross-border crypto probe

India's Enforcement Directorate searched six premises tied to five Bengaluru-based crypto payment firms alleging unauthorized cross-border transfers totaling over ₹2,500 crore. The action underscores heightened regulatory scrutiny of crypto payments and cross-border transfers, increasing compliance and security risks for firms and likely weighing on adoption and market sentiment.