WazirX Receives Show Cause Notice From Enforcement Directorate for Cryptocurrency Transactions Worth Rs. 2,790 Crore

Leading Indian cryptocurrency exchange WazirX has received a show cause notice from the Enforcement Directorate for contravention of the FEMA, 1999, for cryptocurrency transactions worth Rs. 2790.74 crore, the enforcement agency shared in a tweet on Friday. The enforcement agency in a press release added that Chinese nationals had used the crypto exchange to launder gambling proceeds worth Rs. 57 crore.

This is a developing story and more details will follow.

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