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Language , Updated: August 11, 2023, 10:17 PM
New Delhi, Aug 11 (PTI) A money laundering investigation by the Enforcement Branch into the crypto trading market WazirX and the ensuing dispute between its promoters has exposed the “dark side “Cryptocurrencies. A senior government source said so on Thursday. He said people should keep in mind that currently there are no rules or laws to regulate the trade done through cryptocurrency and the so-called exchange, so they should be careful about it. “People dealing with crypto should be careful. In the case of WazirX,
He said people should keep in mind that currently there are no rules or laws to regulate the trade done through cryptocurrency and the so-called exchange, so they should be careful about it.
“People dealing with crypto should be careful. In the case of WazirX, people discovered several issues. Considering this, caution is needed in crypto transactions.
The Law Enforcement (ED) Directorate is investigating money laundering charges against WazirX.
The agency seized bank deposits worth Rs 64.67 crore as part of an ongoing money laundering investigation against a smartphone-based lending app involved in a fraud with the “support of Chinese funds.
A few days after the ED action, a public row broke out between the Chief Executive Officer (CEO) of global cryptocurrency platform Binance, Changpeng Zhao, and WazirX co-founder Nischal Shetty.
Source: navbharattimes.indiatimes.com
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