WazirX to Follow Binance in Converting Stablecoins to BUSD

Indian crypto exchange WazirX has announced the delisting of major stablecoins Tether (USDT), Pax Dollar (USDP), and True USD (TUSD). The post WazirX to Follow Binance in Converting Stablecoins to BUSD appeared first on BeInCrypto.

Timeline of Binance-usd, Wazirx

The crypto asset exchange Wazirx is following Binance's move by delisting a number of stablecoins and automatically converting them to BUSD at a 1:1 ratio. Wazirx customers have until September 23 to withdraw their stablecoins if they don't want the funds converted.

As of press time, Binance finished integrating BUSD on the Avalanche and Polygon networks as well as WAX (WAXP) on the ERC20 protocol. These two integrations were announced by Binance on its official website and Twitter account.

Binance recently announced the successful integration of $BUSD into the Avalanche and Polygon networks. Binancians (Binance's user community) can now inter-transfer BUSD across the Ethereum, Smart Chain, Beacon Chain, Avalanche and Polygon networks.

Amongst choppy market conditions and an uncertain macroeconomic environment, a new Ethereum-based token, Uniglo (GLO), is rapidly rising to prominence. This new social currency promises an improved store of value and has already risen by 35% in the last month.

Indian cryptocurrency exchange WazirX on Monday said that India's Enforcement Directorate (ED) has unfrozen its bank accounts after the exchange's “active cooperation” and “active anti-money laundering” checks led to blocking suspicious accounts. India's ED last month froze the accounts of the cryptocurrency exchange WazirX as part of a money laundering investigation.

WazirX's bank accounts were unfrozen by India's agency for combating financial crime, according to the cryptocurrency exchange. One of the biggest cryptocurrency exchanges in India by trading volume, WazirX, claimed in a statement that the Enforcement Directorate cleared its funds as a result of its active participation in the current money laundering probe.

India's Enforcement Directorate (ED) has unfrozen the bank accounts of cryptocurrency exchange Wazirx, the company said. The accounts were frozen as part of the federal agency's investigation into 16 fintech companies and instant loan apps.

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.

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.