Indian authorities have reportedly searched the offices of CoinDCX and Delta Exchange as part of an probe into offshore trading. The Enforcement Directorate alleges that trades placed by Indian users were routed to platforms including Binance and Bybit through a shell company registered in Costa Rica. The allegations have not been tested in court, and both exchanges have not been cited as having been found in violation.

Regulatory scrutiny of cross-border crypto flows is clearly tightening in India, so how these exchanges respond could shape compliance norms for the whole sector. What do you think regulators should require from platforms serving Indian users?

Source: https://decrypt.co/383126/indias-financial-crimes-agency-searches-coindcx-delta-exchange-over-offshore-trades

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