According to the Enforcement Directorate (ED), a FEMA investigation was initiated on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications.
India Business News: The Enforcement Directorate on Friday said it has issued a show cause notice to the country's largest cryptocurrency exchange for undertaking transact
Read more about ED sends notice to crypto exchange WazirX for Rs 2,791-cr transactions on Business Standard. ED initiated the FEMA investigation on the basis of an ongoing money laundering probe into Chinese-owned illegal online betting applications
India's largest crypto exchange WazirX says it is 'yet to receive any show-cause notice from the Enforcement Directorate (ED)' for the alleged violation of Foreign Exchange Management Act (FEMA) laws. Vows to "fully cooperate in the investigation” if any such notice is received.