India's Enforcement Directorate Unfreezes Crypto Platform WazirX's Assets

India's federal Enforcement Directorate (ED) has now unfrozen crypto exchange WazirX's assets. Last year, ED undertook an investigation into the crypto platform as it suspected violations of foreign exchange regulations.

Timeline of Wazirx

Indian cryptocurrency trading platform WazirX revealed today that the Enforcement Directorate (ED) has unfrozen its bank accounts after its investigation. It is after nearly a month that the exchange would be assuming its banking operations.

India-based cryptocurrency exchange WazirX has announced that the country's anti-money laundering (AML) watchdog has “unfrozen” the crypto platform's accounts. An update the crypto exchange published on Monday, undoubtedly the latest positive crypto news from India, noted that the Enforcement Directorate (ED) had taken the step following active cooperation from the WazirX team.

WazirX, one of the largest Indian crypto exchanges on Monday announced that they had received relief from the Enforcement Directorate (ED). After cooperating with the anti money laundering agency, crypto exchange bank accounts have been unfrozen.

WazirX, owned by the world's largest digital currency exchange Binance, said on Monday that India's financial crime-fighting agency has unfrozen the bank accounts of the unit after more than a month in a case involving suspected violation of foreign exchange regulations.

Nischal Shetty, co-founder of Indian crypto exchange WazirX, is raising capital for a new venture, despite his previous one coming under scrutiny from authorities. The post WazirX Co-Founder Seeks Funding For New Venture Valued at $220M appeared first on BeInCrypto.

Another week has passed and developments in the Binance-Wazirx controversy continue, Nigeria's Economic and Financial Crimes Commission (EFCC) claims it has identified individuals fueling the naira's depreciation, Shark Tank star Kevin O'Leary says crypto “desperately needs policy,” and the government of Nepal is preparing to issue its own digital currency.

The Singapore-based crypto-exchange company – Valud has come under the radar of the Enforcement Directorate of India (ED), the anti-money laundering agency of the country.  ED in a press release stated that it had conducted a search at the Bangalore office of Valud and has frozen assets worth Rs. 370 crores (approximately $46 million).

On Thursday, reports underlined that the Indian Enforcement Directorate (ED) blocked bank assets worth Rs 370 crore (around $46 million) that belonged to the troubled crypto exchange Vauld. The post India: After WazirX, ED Attaches Assets Worth $46M From Crypto Exchange Vauld appeared first on BeInCrypto.

Last week, the Enforcement Directorate (ED) commenced an investigation on one of the directors of Zanmai Labs Pvt Ltd and froze Rs. 64.47 Crore worth of bank assets belonging to the company. The situation continued to worsen from here. Binance removed the off-chain crypto transfer to WazirX, which was a sought-after feature amongst the users.

India's Enforcement Directorate, which investigates financial crime, has frozen WazirX bank accounts while it looks at transfers from instant loan companies to international wallets.