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SIT on black money tells govt: Criminal gangs switch to cryptocurrency for money laundering, drug …

SIT on black money tells govt: Criminal gangs switch to cryptocurrency for money laundering, drug smuggling – Firstpost

New Delhi: Networks of criminal gangs are reportedly increasingly reliance on cryptocurrency for money laundering and drugs smuggling, the Special Investigation Team (SIT) on black money is learnt to have told the government. It has also recommended that no regulation is required for the virtual form of currencies as the prosecution in such cases remain pending for years.