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Binance sides with Indian regulators in WazirX fallout to cease support for off-chain transfers

08/09/2022

Less than a minute

2022.08.09 15:22

Binance sides with Indian regulators in WazirX fallout to cease support for off-chain transfers

As reported by local news outlet The Economic Times on Monday, Binance is scheduled to remove off-chain fund transfers with Indian cryptocurrency exchange WazirX on Thursday, although users will still be able to deposit and withdraw balances via the standard withdrawal and deposit process between the two exchanges.

Three days prior, The Directorate of Enforcement of India alleged that WazirX “actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route” and subsequently froze $8.1 million in bank balances related to the exchange.

08/09/2022

Less than a minute

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