Authorities in India raided Sameer Mhatre, the director of Binance-affiliated cryptocurrency exchange WazirX.
According to the official statement made by the authorities, WazirX, some financial technology companies Enabled money laundering using cryptocurrencies.
The authorities also asked the manager of WazirX to cooperate with the authorities. “being given a chance again and again” but he stated that he was unwilling to cooperate.
“WazirX did not share cryptocurrency transactions made by suspicious companies and their KYC. Sameer Mhatre, director of WazirX, did not provide details of transactions made with cryptocurrencies, although WazirX has access to its database.”
According to the authorities, some financial technology companies funded from China were unable to obtain the necessary permits to operate in India, and therefore using cryptocurrencies started.
The Ministry of Finance of India also took some actions this week. uses Binance to hide launched an investigation against WazirX.