MUMBAI (Reuters) – India’s monetary crime-fighting company stated on Friday that WazirX, one in every of nation’s largest cryptocurrency exchanges, was underneath investigation for suspected violation of overseas trade laws involving transactions value 27.90 billion rupees ($381.93 million).
The federal Enforcement Directorate revealed the launch of the investigation in a tweet. WazirX – which was acquired in 2019 by Binance, the world’s largest digital foreign money trade – didn’t instantly reply to an e-mail searching for remark.
The investigation comes at time when the Indian authorities is dithering over the introduction of a regulation that might ban cryptocurrencies.
The federal government was set to current a invoice to parliament by March that proposed a ban on cryptocurrencies, making buying and selling and holding them unlawful. However the invoice was not tabled within the session and since then conflicting statements have added to the uncertainty over the invoice’s destiny.
($1 = 73.0500 Indian rupees)
Reporting by Nupur Anand and Aftab Ahmed; Modifying by Simon Cameron-Moore