https://www.taxtmi.com/caselaws?id=468141 Provisional attachment of a crypto-exchange platform's bank account cannot be sustained where the deposited funds were traced to a user, converted into virtual digital assets, and transferred out of the platform, and the intermediary was not shown to be in possession or control of the alleged proceeds of crime. The Tribunal accepted that the platform acted only as a transaction facilitator and was not named in the predicate offence. As the respondents could not justify attaching funds beyond the user-linked deposits or establish continuing possession of proceeds of crime, the attachment and its confirmation were set aside. en-us Tue, 04 Mar 2025 00:00:00 +0530 Fri, 17 Apr 2026 22:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468141 Provisional attachment of a crypto-exchange platform's bank account cannot be sustained where the deposited funds were traced to a user, converted into virtual digital assets, and transferred out of the platform, and the intermediary was not shown to be in possession or control of the alleged proceeds of crime. The Tribunal accepted that the platform acted only as a transaction facilitator and was not named in the predicate offence. As the respondents could not justify attaching funds beyond the user-linked deposits or establish continuing possession of proceeds of crime, the attachment and its confirmation were set aside. Case-Laws Money Laundering Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468141