Those responsible for drug smuggling and terrorism in India are increasingly making use of the darknet and cryptocurrencies, Indian Home Minister Amit Shah reportedly said.
Shah made the remarks at a regional meeting on drug trafficking and national security, according to a Thursday (Oct. 27) report by news agency IANS posted by the Business Standard.
The number of drug smuggling cases registered in the area between 2014 and 2022 was 152% higher than the number registered from 2006 to 2013, Shah said, according to the report.
Read more: India Developing Tech-Driven Regulatory Framework For Crypto
The remarks came as Indian authorities are reportedly investigating allegations of illegal drug transaction facilitation by three unidentified Indian crypto exchanges, The Economic Times reported Thursday.
“Digital currency was used to buy and sell drugs and some of these companies facilitated it,” according to a senior government official quoted in the report.
These alleged transactions took place over three years and were worth about $3.4 billion, CoinDesk reported Thursday.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI