Friday, 24 March, 2023

ED investigating WazirX for money laundering of Rs 2,790 Cr

<p>Pankaj Chaudhary, a minister of state for finance, stated that the ED is looking into claims that WazirX, a cryptocurrency exchange, was used to launder $2,790 Cr under the terms of the Foreign Exchange Management Act of 1999. In response to a different query, Chaudhary stated that non-fungible tokens (NFTs) and cryptocurrencies are by definition borderless and call for international cooperation to prevent regulatory arbitrage.</p>