@BOMBERuss 13 June 2021 more from that month

The Law Enforcement Office (ED) of the Ministry of Finance of India said that one of the country's largest bitcoin exchanges and its management are under investigation on suspicion of violating currency rules, according to Reuters. The ED explained that the claims against WazirX, which was acquired by Binance in 2019, arose during a money laundering investigation into Chinese-owned online betting apps. During the investigation, the agency found out that the laundered criminal proceeds worth about 570 million (~$8.8 million) rupees were converted into cryptocurrency using the Binance platform. Under the Foreign Exchange Management Act (FEMA) of 1999, the ED requested an explanation from WazirX for transactions totaling 27.91 billion rupees (~$382 million). #Binance