India Names Binance and Bybit Among Foreign Platforms in $585M Crypto Remittance Probe
Photo: Finance Magnates
India’s Enforcement Directorate (ED) is investigating alleged cryptocurrency-linked cross-border transactions worth around $585 million (₹5,000 crore). The case involves Mudrex, Saber.money and decentralised finance protocol Instadapp. On 27 October, the agency searched four premises, including three in Bengaluru and one in Madhya Pradesh, under the Foreign Exchange Management Act. London's trading industry is coming home! The operation follows an earlier ED investigation into CoinSwitch Kuber . In August 2022, the agency searched premises linked to the crypto exchange over suspected violations of India’s foreign exchange laws.
Source: Finance Magnates
