Probe unearths ₹2.2 cr crypto transaction for drug trafficking
NEW DELHI: The Narcotics Control Bureau (NCB) and the Central Board of Indirect Taxes and Customs (CBIC) have unearthed ₹2.2 crore payment through cryptocurrency in 11 drug trafficking cases, minister of state for finance Pankaj Choudhary informed the Lok Sabha on Monday.
The government is taking steps such as conducting training for the field officers on cyber and forensic technologies and on the collection of evidence through electronic means to check such usage, Choudhary said in a written reply to the Lower House of Parliament.
“NCB and CBIC have unearthed the payment of around ₹2.2 crore through cryptocurrency in 11 cases linked to drug trafficking,” Choudhary said.
The minister also listed regular liaisoning with technical experts, coordination with foreign drug law enforcement agencies, and assistance to states for procuring equipment, including electronic surveillance systems as steps taken by the government to check the usage of cryptocurrency in drug trafficking.
In reply to a separate question on government plans to announce regulations on metaverse and Web 3.0, Choudhary said the technologies are still evolving.
“The government is cognizant of the emergence of new technologies and rapid proliferation of emerging technologies, such as artificial intelligence, blockchain, drone, augmented reality / virtual reality, metaverse, and Web 3.0,” he said.
Meanwhile, putting light on cryptocurrency’s increasing penetration, a new survey from US cryptocurrency exchange Gemini said almost half of all crypto owners in the US, Latin America, and Asia Pacific purchased the digital assets for the first time in 2021. The survey of nearly 30,000 people across 20 countries, shows that 2021 was a blockbuster year for crypto with inflation driving its adoption.