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Government agencies in India are probing WazirX over alleged money laundering.

India's Enforcement Directorate has frozen WazirX's bank balances worth around $8 million. The agency has been investigating WazirX for its alleged role in money laundering. The post Binance-owned exchange WazirX's bank balances frozen by Indian authorities appeared first on The Block.

India's Enforcement Directorate (ED) has ordered the freeze of a WazirX bank account with Rs 64.67 crore (roughly $8.1 million) in connection with a money laundering investigation, IndiaToday reported August 5. The post India freezes 64.67 crore ($8.1M) of WazirX's funds for money laundering probe appeared first on CryptoSlate.

India's financial crime-fighting agency said on Friday that it has frozen the assets of WazirX, owned by the world's largest digital currency exchange Binance, as part of its investigation into suspected violation of foreign exchange regulations.

The Indian Cryptocurrency Exchange, WazirX has landed under the radar of the Enforcement Directorate (ED). In the latest developments, the ED searched the premises of WazirX's Director.

As the Ministry of Finance launches two investigations against the Indian Crypto Exchange.

WazirX, owned by Binance is under investigation for money laundering in India, with reports emerging that the Foreign Exchange Management Act of 1999 was broken by the India-based exchange, which runs as a separate division of Binance.

India's ED is investigating WazirX Exchange while Robinhood has received a $30M fine. Also, Ethereum has been up by 1% in the past 24 hours.

The Indian Directorate of Enforcement is investigating WazirX to determine whether it facilitated the laundering of 2,790 crore Indian rupees(over $350 million) through its platform, the country's Finance Minister, Pankaj Chaudhary, told local media. The post Binance-owned WazirX under investigation in India over alleged money laundering appeared first on CryptoSlate.

Pankaj Chaudhary, the Minister of Finance of New Delhi, on August 3rd stated that the Enforcement Department has imposed money laundering allegations on WazirX and

A Show Cause Notice (SCN) has been issued under the terms of FEMA. ED is probing two instances involving WazirX

WazirX is accused of laundering $350 million through crypto, founders already left India

On August 2, Pankaj Chaudhary (Minister of State for Finance) submitted a report in the Rajya Sabha addressing Money Laundering charges against the Indian Bitcoin exchange – WazirX. The report mentioned that the Enforcement Directorate (ED) is scrutinizing the alleged Money Laundering of Rs 2,790 Crore through WazirX.

The Indian Ministry of Finance confirmed on Aug. 2 that the WazirX crypto exchange is being investigated for money laundering and flouting forex rules. The post Binance-Owned WazirX Probed in India for Alleged Money Laundering of Over $350M appeared first on BeInCrypto.

CryptoSlate recently caught up with Nischal Shetty, Founder of India's biggest crypto exchange WazirX to discuss layer 1s, the human role in blockchain, validator responsibilities, proof-of-stake governance, and decentralization. The post The inherent flaw of delegated proof-of-stake governance systems with Nischal Shetty, WazirX appeared first on CryptoSlate.

The swiftly growing user base of cryptocurrencies in India has pushed crypto to emerge as a big investment opportunity. People are rapidly moving from traditional modes of investment to crypto due to single-point access provided by crypto exchanges like Binance and WazirX.

The crypto exchange has received over 1023 requests from law enforcement agents in the October-March 2022 period.  Report Reveals Surge In Data Request  The India-based crypto exchange has revealed the information in its transparency report for the period between October 2021 and March 2022 that they have received over 1023 data requests related to criminal activities.