Crypto traders in India are concerned over the recent investigations led by the Enforcement Directorate (ED). Many crypto exchanges of Indian descent are under fire for money laundering. This may adversely impact the digital asset market in the country, with ripple effects felt around the world.
Here are the biggest crypto exchanges that are being investigated by the ED for money laundering –
This crypto firm aims to democratize crypto investment. As a result, many investors around the world lean on CoinSwitch Kuber to trade digital assets. You can buy and sell hundreds of digital assets like Bitcoin (BTC) and Dogecoin (DOGE) on the platform. However, CoinSwitch Kuber has fallen under the ED’s radar for business malpractice.
One of India’s fastest-growing digital asset exchanges, WazirX offers a wide variety of cryptocurrencies for trading like Ripple and Ethereum (ETH). Additionally, WazirX became popular due its speed and reliable security framework. But now this crypto firm is accused of money laundering and is currently under investigation.
This exchange platform is among the most versatile Indian crypto applications. The most promising feature of CoinDCX is its solid security infrastructure that allows for secure trading practices. Without proper user verification, you cannot buy or sell digital assets on this platform. It is not clear whether CoinDCX is on the ED’s list of investigations.
The makers of Unocoin claim their platform to be India’s first Blockchain and digital asset company. Currently, millions of traders use Unocoin to purchase and sell cryptocurrencies. According to some sources, this digital asset exchange may be investigated as well.