India’s Financial Crime Agency Investigating CoinSwitch Kuber

29.08.2022 09:31
by Srđan Jovanović
1 min read

Indian authorities continue the battle against crime in the crypto industry. After going after India’s largest crypto exchange, WazirX, the Enforcement Directorate (ED) is now investigating another large Indian crypto exchange – CoinSwitch Kuber.

According to an unnamed spokesperson who spoke to Reuters, ED has accused CoinSwitch of violating the country’s forex laws. Because of this, the authorities have looked into financial documents and foreign trade data on five CoinSwitch locations.

CoinSwitch CEO Ashish Singhal stated that the investigation is not about money laundering, but that the ED wants to make sure that CoinSwitch is operating under the country’s regulations.

While the exact details of the investigation are yet to be confirmed, one thing is certain – India’s financial crimes unit is taking crypto rather seriously.

Author

  • Long-time editor, crypto enthusiast, and all for free trade. Also a social scientist, musician, and a thorough-going liberal. Wrapped up a degree in linguistics, an MA in politics, and a PhD in history. Six postdocs afterwards. Speaks English, Serbian, Czech, and Swedish, communicative in German, Russian, Polish, Italian, Slovak, Norwegian, and even some Mandarin. Cryptocurrencies are the future.

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