Category: wazirx

Crypto investment in India surges with teenagers getting in on it using pocket money

Teenagers in India are fast taking on crypto investments, driven by high profits and pandemic boredom. Young investors are using their pocket money to purchase crypto tokens. Indian teenagers are fast venturing into the crypto market using their pocket money. By May, the nation’s total crypto investments had surged to $6.6 billion (Rs 49,189 crore) […]

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Cryptocurrency Is Picking up Steam in Small Cities in India: Report

Cryptocurrency Is Picking up Steam in Small Cities in India: Report

Cryptocurrency usage and trading are experiencing a boom in India, and most of this growth is coming from small cities. According to reports from local exchanges, the growth has been exponential. The profile of these new participants has also been interesting, as they are highly educated, not only focused just on bitcoin, and are open […]

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Breaking: Binance May Face Investigation in the $134 Million Money Laundering Case in India

Binance crypto exchange’s legal trouble has extended to India now. The world’s largest crypto exchange is under the scanner of the Indian anti-money laundering agency Enforcement Directorate (ED) for its role in the $134 million money laundering case, as per a report in Bloomberg. The ED is currently investigating a money-laundering racket operated through Chinese […]

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Indian Crypto Exchange CoinDCX Looking to Raise $120 Million: Report

Indian crypto exchange CoinDCX could become the next crypto unicorn as reports suggest the crypto exchange is in talks to close the $100-$120 million funding round. The crypto exchange had closed a $13.9 million Series B funding round in December last year. The exchange raised a total of $19.4 million throughout 2020. The completion of […]

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ED issues ‘crypto withdrawals’ Notice Against WazirX; Why it is critical for Indian ecosystem?

Indian regulatory watchdog Enforcement Directorate (ED) issued a notice against India’s largest crypto exchange WazirX asking them why withdrawals from the crypto wallet are not a violation of India’s Foreign Exchange Management Act (FEMA), as per a report in ET. The notice from the financial watchdog comes at a crucial juncture in terms of crypto […]

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Indian ‘Crypto King’ Arrested by Narcotics Control Bureau — Wazirx Says Not Our User

Indian ‘Crypto King’ Arrested by Narcotics Control Bureau — Wazirx Says Not Our User

India’s Narcotics Control Bureau (NCB) has arrested a Mumbai resident known as “crypto king,” who allegedly used bitcoin to purchase narcotics on the dark web. Indian cryptocurrency exchange Wazirx says the accused is not one of its customers. ‘Crypto King’ Arrested in India A Mumbai resident, Makarand Pardeep Adivirkar, also known as “crypto king” in […]

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India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case

India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case

India’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications,” the ED detailed. ED’s FEMA Investigation of Wazirx […]

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Binance’s Wazirx under investigation by India’s financial watchdog, Kraken opts for traditional IPO

Top crypto exchange in India, Wazirx is reportedly under investigation for money laundering. Elsewhere, Kraken has decided to go public through IPO Instead of the previously announced direct listing.  Wazirx, the biggest crypto exchange in India acquired by Binance in 2019 is reportedly under investigation by the Indian financial watchdog, Enforcement Directorate (ED). According to […]

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Indian law enforcement agency alleges crypto exchange WazirX violated FEMA rules

Indian law enforcement agency alleges crypto exchange WazirX violated FEMA rules

India’s Directorate of Enforcement — a law enforcement agency responsible for fighting financial crime in the country — has alleged that local crypto exchange WazirX violated the Foreign Exchange Management Act (FEMA) rules. The Directorate of Enforcement, known as ED in India, announced Tuesday that it has issued a show cause notice to WazirX “for […]

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