The ED was investigating a money laundering case in 2021 involving Chinese-owned websites that offered illicit online gambling. As a result of the findings, India has freezed assets of Binance linked crypto exchange WazirX.
As part of its investigation into potential violations of foreign exchange regulations, India's financial crime-fighting agency announced on Friday that it has frozen the assets of WazirX, a company affiliated to Binance, the biggest digital currency exchange in the world.
According to the federal Enforcement Directorate (ED), assets worth $8.16 million (646.70 million rupees) were frozen.
One of the biggest virtual currency exchanges in India, WazirX, said in a statement, "We have been fully cooperating with the Enforcement Directorate for several days and have responded to all their queries fully and transparently."
"We do not agree with the allegations in the ED press release. We are evaluating our further plan of action."
The organi...