<h1>Union Minister Calls for Global Crypto Regulations; Rs. 936 Crore Seized Under Money Laundering Act, RBI Warns of Risks.</h1> Crypto assets, being inherently borderless, necessitate international cooperation to prevent regulatory arbitrage, according to a Union Minister. The Directorate of Enforcement is probing several cryptocurrency fraud cases, with Rs. 936 crore seized under the Prevention of Money Laundering Act. Five individuals have been arrested, and multiple prosecution complaints have been filed. Additionally, under the Foreign Exchange Management Act, assets worth Rs. 289.28 crore have been seized, and a show cause notice issued to a cryptocurrency exchange for transactions worth Rs. 2,790 crore. The Reserve Bank of India has repeatedly cautioned about the risks associated with virtual currencies and advised entities to adhere to due diligence and compliance standards.