India Freezes Assets Of Binance-Linked Crypto Exchange WazirX On FX Allegations
NDTV
India's financial crime-fighting agency said it had frozen the assets of WazirX, linked to the world's largest digital currency exchange Binance.
India's financial crime-fighting agency said on Friday it had frozen the assets of WazirX, linked to the world's largest digital currency exchange Binance, as part of its investigation into suspected violation of foreign exchange regulations. Quick thread on Binance and WazirX, and some incorrect reporting.Binance does not own any equity in Zanmai Labs, the entity operating WazirX and established by the original founders.1/4
The federal Enforcement Directorate (ED) said that it froze assets worth 646.70 million rupees ($8.16 million).
"We have been fully cooperating with the Enforcement Directorate for several days and have responded to all their queries fully and transparently," said a spokesperson for WazirX, which is among the largest virtual currency exchanges in India.
"We do not agree with the allegations in the ED press release. We are evaluating our further plan of action."
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