$BNB - India's Enforcement Directorate searched CoinDCX and Delta Exchange premises, alleging user trades were routed to Binance and Bybit.

ED's Bengaluru unit raided three locations tied to Neblio Technologies, CoinDCX's parent company.
Probe focuses on potential Foreign Exchange Management Act violations from offshore exchange access.

Regulatory pressure on offshore on-ramps escalates; Binance's exposure via Indian partner flows remains undefined.

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