0 sats \ 4 replies \ @cryptocoin OP 5 Aug 2022 \ on: Indian Government Raids Director of Crypto Exchange WazirX, Freezes $8.1M bitcoin
Here's another article on this development:
“Further it has been found that all crypto transactions between these 2 exchanges were not even being recorded on the blockchains and were thus cloaked in mystery. Accordingly, a show cause notice (SCN) has been issued under the provisions of FEMA against WaxirX for allowing outward remittance of crypto assets worth Rs 2,790 crore to unknown wallets.”
All transactions between WazirX and Binance were 'cloaked in mystery': Govt on ED probe
https://www.moneycontrol.com/news/business/cryptocurrency/all-transactions-between-wazirx-and-binance-were-cloaked-in-mystery-mos-chaudhary-on-ed-probe-8938741.html
https://archive.ph/PLAqN
reply
Haha ...
The ministry said that cryptocurrencies are borderless and require international collaboration to 'prevent regulatory arbitrage'.
Indeed, sir. Indeed.
Good luck with that.
reply
This is interesting:
Quick thread on Binance and WazirX, and some incorrect reporting.Binance does not own any equity in Zanmai Labs, the entity operating WazirX and established by the original founders.1/4
The 2019 press release announcing the acquisition:
Binance Acquires India’s Leading Digital Asset Platform WazirX to Launch Multiple Fiat-to-Crypto Gateways
https://www.binance.com/en/blog/all/binance-acquires-indias-leading-digital-asset-platform-wazirx-to-launch-multiple-fiattocrypto-gateways-404105749895733248
https://archive.ph/YyMt2
A 2021 Tweet from cz's Twitter acount:
» Binance-owned Indian crypto exchange WazirX crosses $200m in daily trading volume; eyes $1b in 2021 - The Financial Express
Then, today when the exchange is in trouble with the regulators, cz says the acquisition never happened. Can it be possible some intern created that 2021 Tweet and cz didn't realize it? Possible. Not likely. More likely it was using misleading info to make Binance look good so the exchange token jumps!
reply
Haha, there's more:
1/ FACTS about WazirX & Binance:WazirX was acquired by BinanceZanmai Labs is an India entity owned by me & my co-foundersZanmai Labs has license frm Binance to operate INR-Crypto pairs in WazirXBinance operates crypto to crypto pairs, processes crypto withdrawal…
reply