ED Raids on CoinSwitch Kuber
CoinSwitch Kuber for alleged Foreign Exchange Management Act (FEMA) violations.
Our approach has always been that of transparency.
10 crypto exchanges are under the ED radar for their alleged involvement in money laundering of approx Rs 10 billion.
Crypto is an early stage industry with a lot of potential and we continuously engage with all stakeholders
ED is looking into multiple possible contraventions under FEMA and other entities that are connected to CoinSwitch.
Earlier, the ED froze bank assets of crypto exchange WazirX worth 64.67 crore Rupees.
his action led the ED to 10 crypto exchanges in the country.