India investigates Binance-owned WazirX for alleged forex rules violation, freezes assets

India investigates Binance-owned WazirX for alleged forex rules violation, freezes assets

FILE PHOTO: Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration/File Photo

India’s financial crime-fighting agency said on Friday that it has frozen the assets of WazirX, owned by the world’s largest digital currency exchange Binance, as part of its investigation into suspected violation of foreign exchange regulations.

The federal Enforcement Directorate (ED) said that it froze assets worth 646.70 million rupees ($8.16 million).

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