Indian Enforcement Raids CoinDCX Over Claims Its Trades Ran Through Binance

India’s Enforcement Directorate (ED) searched premises linked to CoinDCX and Delta Exchange India, alleging they routed users’ trades to Binance, Bybit and other offshore platforms. The ED said its Bengaluru office searched three premises tied to Neblio Technologies , the parent of CoinDCX, and Excelium Technologies, which operates Delta Exchange India, between Nov. 4 and Nov. 5. The agency acted under the Foreign Exchange Management Act (FEMA), India’s law on cross-border money flows. An official circular read as follows: The ED further added that the trades in question ran into thousands of crores of rupees .

Source: Bitcoin.com News